Payroll & Retirement Analyst (1.0 FTE, Days)
Finance & Accounting
1.0 FTE, 8 Hour Day Shift
At Stanford Children’s Health, we know world-renowned care begins with world-class caring. That's why we combine advanced technologies and breakthrough discoveries with family-centered care. It's why we provide our caregivers with continuing education and state-of-the-art facilities, like the newly remodeled Lucile Packard Children's Hospital Stanford. And it's why we need caring, committed people on our team - like you. Join us on our mission to heal humanity, one child and family at a time.
This paragraph summarizes the general nature, level and purpose of the job.
Under limited supervision, the Payroll and Retirement Analyst is primarily responsible for handling all Retirement Plan inquiry and escalations related to the employee’s payroll check and retirement plan deductions; 403(b) and 457(b). Responsible for responding to all Payroll Service Requests related retirement Plans and biweekly, semi-annual and annual audits for all Payrolls processed, including for LPCH, PCHA and PMG.
The essential functions listed are typical examples of work performed by positions in this job classification. They are not designed to contain or be interpreted as a comprehensive inventory of all duties, tasks, and responsibilities. Employees may also perform other duties as assigned.
Employees must abide by all Joint Commission Requirements including but not limited to sensitivity to cultural diversity, patient care, patient rights and ethical treatment, safety and security of physical environments, emergency management, teamwork, respect for others, participation in ongoing education and training, communication and adherence to safety and quality programs, sustaining compliance with National Patient Safety Goals, and licensure and health screenings.
Must perform all duties and responsibilities in accordance with the hospital’s policies and procedures, including its Service Standards and its Code of Conduct.
- Performs monthly audit of 403(b), 401(k) and 457 deferral elections.
- Perform audits on 402(g), 401(a) compensation and 415 limits on biweekly basis.
- Provide instruction to the Payroll team on corrections.
- Perform audits on 457 deferral elections and set up of deductions within Payroll system
- Audit inter-hospital transfers.
- Ensures compliance with recordkeeping in accordance with IRS and Audit requirements.
- Work with Retirement Plans Group on annual census, Discrimination Testing, and third-party audit of the plan.
- Create reports as required to support audits.
- Coordinate and manage all Retirement Plan audits, internal and external by providing Payroll information as needed.
- Processes corrections and special adjustments as necessary to ensure proper deduction from employee paychecks.
- Perform balancing and Retirement funding for all payrolls.
- Work in conjunction with the Cash Management team to ensure timely payments for all retirement plans.
- Communicate to Fidelity/Benefits on errors resulting from ADP load of deduction feedback file.
- Coordinate daily work activities around responding to internal inquiries and escalations related to retirement plan contributions on paychecks.
- Respond and resolve escalated inquiries and complaints to ensure quick, equitable, courteous resolution.
- Manage all Retirement Plan Service Requests through Payroll Ticketing system to resolve issues for Union employees and all other employees.
- Provide training and guidance as needed to Payroll Processors on understanding retirement contributions as related to paycheck deductions.
- Manage access to vendor portal for team members (currently Fidelity PSW).
- Document end-to-end processes from deferral elections through funding, and corrections.
- Develop and implementations Best Practices around Retirement Plan corrections within Payroll, and Audits of 403(b) plans.
- Reconcile all Retirement GL Accounts.
Any combination of education and experience that would likely provide the required knowledge, skills and abilities as well as possession of any required licenses or certifications is qualifying.
- Education: Bachelor’s Degree with either Accounting or HR Focus.
- Experience: Five (5) years of progressively responsible payroll experience including experience with 401(k), 403(b), 457(b) audits, reconciliation and processing.
Knowledge, Skills, & Abilities
These are the observable and measurable attributes and skills required to perform successfully the essential functions of the job and are generally demonstrated through qualifying experience, education, or licensure/certification.
- Knowledge of ADP Enterprise or Ev5
- Advanced Report Writing Skills
- Ability to maintain confidentiality with sensitive information.
- Ability to plan, organize, prioritize, multi-task and meet deadlines.
- Superior problem solving skills.
- Ability to work effectively with individuals at all levels of the organization.
- Excellent verbal and written communication skills
- Knowledge of computer applications related to payroll and retirement plans processing.
- Knowledge of IRS Correction Methodology related to Retirement Plans.
- Knowledge of Payroll terminology.
- Knowledge and experience working in a union environment.
The Physical Requirements and Working Conditions in which the job is typically performed are available from the Occupational Health Department. Reasonable accommodations will be made to enable individuals with disabilities to perform the essential functions of the job
Equal Opportunity Employer