Human Resources Foundations Advisor, Retirement Benefits
Bayer
At Bayer, we believe work should matter. Every day, our teams push toward a future where "Health for all, Hunger for none" is within reach, and every role, from the lab to the field to the boardroom, helps us get there. We give people the ownership to shape outcomes, the support to grow through new skills and experiences, and a global community where different perspectives are valued. If you want your work to count and the room to become your best, you'll find it here.
Human Resources Foundations Advisor, Retirement Benefits
YOUR TASKS AND RESPONSIBILITIES
The primary responsibilities of this role, Human Resources Foundations Advisor, Retirement Benefits are to:
The HR Foundations Advisor, Retirement Benefits (Total Rewards) supports the accurate, compliant, and employee-focused administration of the organization’s Defined Contribution and Defined Benefit retirement plans. The advisor manages day-to-day plan operations, researches and resolves complex participant issues, monitors vendor performance and data interfaces, supports audits and regulatory activities, and contributes to retirement plan projects and communications.
The successful candidate will bring strong retirement plan knowledge, attention to detail, analytical problem-solving skills, and a commitment to delivering clear, timely support to employees, retirees, beneficiaries, and internal partners
Defined Contribution Plan Administration
- Support day-to-day administration of qualified and non-qualified Defined Contribution plans, including 401(k) plan eligibility, enrollment, contributions, deferral changes, employer contributions, distributions, loans, beneficiary updates, and plan limits.
- Monitor payroll and recordkeeper interfaces; research contribution discrepancies, rejected transactions, eligibility issues, and missing or inaccurate participant data.
- Reconcile plan data, funding, participant activity, and vendor reports; coordinate timely correction of operational errors with payroll, HRIS, Finance, and external partners.
- Respond to escalated employee, retiree, and beneficiary inquiries and explain plan provisions using plan documents, summary plan descriptions, administrative procedures, and vendor resources.
- Support annual compliance testing, government filings, required participant notices, audits, and other recurring plan administration activities.
- Coordinate with recordkeepers and internal partners on qualified domestic relations orders, required minimum distributions, death claims, corrections, and other complex transactions.
Defined Benefit Plan Administration
- Support day-to-day administration of qualified and non-qualified Defined Benefit pension plans for active employees, terminated vested participants, retirees, and beneficiaries.
- Coordinate pension estimates, retirement packages, benefit elections, payment commencement, lump-sum or annuity processing, death benefits, and other participant lifecycle events.
- Review participant data, service history, compensation, eligibility, vesting, and benefit calculations for completeness and accuracy; research historical records and resolve discrepancies.
- Partner with actuaries, pension administrators, trustees, payroll, Finance, Legal, and other stakeholders to complete benefit calculations, funding and payment activities, and plan administration requirements.
- Coordinate taxation and payroll reporting for non-qualified retirement benefits, including applicable FICA processing.
- Research and resolve escalated pension inquiries, calculation questions, payment issues, and plan interpretation matters in a timely and service-oriented manner.
- Support internal and external audits by gathering documentation, validating data, responding to inquiries, and tracking items through resolution.
- Monitor retirement plan vendor service levels, transaction quality, open issues, and participant experience; escalate risks and follow through on corrective actions.
- Maintain accurate procedures, controls, issue logs, and documentation for retirement plan processes.
Retirement Governance, Projects & Communications
- Partner with internal and external stakeholders to implement retirement plan changes, administrative improvements, and corrective actions.
- Support retirement system maintenance, data conversion, testing, upgrades, and implementation activities.
- Assist with drafting and reviewing retirement plan communications, participant notices, educational materials, FAQs, and administrative procedures.
- Interpret plan documents, policies, procedures, and applicable requirements for employees and internal partners, escalating legal or fiduciary questions as appropriate.
- Identify and recommend improvements to retirement processes, controls, data quality, reporting, and participant service.
- Prepare recurring metrics, compliance reports, audit support, and governance materials for retirement plan leadership and committees.
- Apply approved artificial intelligence tools to improve research, data analysis, documentation, communications, and process efficiency, while validating outputs and protecting confidential participant and plan information.
- Participate in team and vendor meetings and perform other retirement-related duties as assigned.
WHO YOU ARE
Bayer seeks an incumbent who possesses the following:
Required Qualifications:
- Demonstrated knowledge of U.S. Defined Contribution and Defined Benefit plan administration, including eligibility, contributions, distributions, pension calculations, payment processing, and participant servicing;
- Ability to interpret plan documents and administrative procedures, analyze complex data, identify discrepancies, and drive issues to accurate resolution;
- Experience working with retirement recordkeepers, pension administrators, actuaries, payroll teams, auditors, and other internal and external partners;
- Strong organizational