Retirements Manager

About us

BorgWarner is a global product leader in delivering innovative and sustainable mobility solutions for the vehicle market. We are a company of innovators and independent thinkers that brings together talented employees, meaningful work, and amazing technology in a unique environment. At BorgWarner we constantly work towards our vision of a clean and energy-efficient world.

Our Culture

We believe health and safety of our employees are a top priority, we care about our local communities and the global environment. BorgWarner promotes and nurtures a diverse and inclusive environment, honors integrity, strives for excellence, commits to responsibility for our communities and the environment, and builds on the power of collaboration.

Career Opportunities

We manage talent as seriously as we manage our businesses and encourage you to learn about our proud history, strong culture, technologies and future vision. We offer a strong local presence and interesting global opportunities. Start your future with BorgWarner now!

Job Purpose

The Retirement Manager is responsible for advanced-level design, development, audit and administration of financial-based programs for all U.S.-based active locations and legacy groups. This position works closely with external vendors, internal payroll, HRIS, and business unit contacts. The manager has accountability to administer programs in compliance with provisions of the Employee Retirement Income Security Act, Federal, State, and Local laws.

Key Responsibilities

US Defined Contribution Qualified Plan & Non-Qualified Plans

• Manage the day-to-day administration and provide guidance to all U.S. locations and the recordkeeper for the US qualified and non-qualified retirement plans.
• Interpretation of plan and policies for administrative decisions, directing the company's vendors, and providing customer support and problem resolution to Human Resources contacts.
• Interact with payroll and recordkeeper on all matters related to plan administration; request appropriate calculations from recordkeeper and maintain appropriate payroll protocols for plan testing.
• Prepare 10k, Form 5500, and audited financial reports required by law to be filed with federal and state agencies.
• Conduct compliance testing including top-heavy, 401m (employer match), 410b (minimum participation), and 401a4(nondiscrimination).
• Monitor employee participation and assist BorgWarner locations with participation solicitation, new enrollments, and coordination of Retirement Plan educational workshops.
• Analyze equity of current benefits compared to those of other employers, surveys, trends and legislated requirements; proactively identify benefit issues, and report problems and trends to Benefits leadership.
• Work closely with the HRIS and Payroll teams to coordinate and update new statutory limits within the systems.
• Facilitate further development of the Benefits website by identifying opportunities to leverage technology to increase automation and streamline processes.
• Process allocation of expenses.

US Defined Benefit Qualified Plan

• Liaison with the Pension Service Center to provide guidance and approve service center pension changes.
• Interpretation of plan for complex decisions and problem resolution.
• Coordinate preparation of Form 5500 and audited financial reports required by law to be filed with federal and state agencies.
• Perform FAS87 auditing for annual valuation using procedures.
• Distribution of annual funding notices, annual cash balance statements, and other required notices.
• Work with HRLink to communicate cash balance options upon termination from BorgWarner.
• Manage de-risking opportunities through actuary and finance team discussions.
• Facilitate interfaces and further development of interface data exchanges.
• Process allocation of expenses.

Retiree Health Plan

• Provide service to retirees with pre-Medicare, Medicare, or RRA accounts for escalated questions and benefit inquiries.
• Conduct pre-Medicare annual open enrollment and submission of premium collection data to BOS.
• Interpretation of health program language for trouble shooting and problem solving.
• Perform FAS106 procedures annually working cross-functionally to address any issues with the application of these procedures.
• Ensure quality of retiree data through HRIS updates, audits and periodic reviews between Workday and WTW EEPoint systems.
• Maintain contact with vendors and coordinate necessary reporting to meet our reporting needs.
• Processing of retiree expense funding, invoices and interfaces.
• Works with Senior Benefit Analyst on regular reporting of retiree headcount, costs
• Project manager of any retiree group projects as needed.

Global Retirement Administration

• Maintain operational, compliance/governance, and other tasks related to the administration of the company-sponsored global pensions and retirement plans
• Work with internal and external resources on various key projects
• Liaise with members with questions and concerns

Financial Well-Being

• Develop programs to offer to employees to promote this component of well-being strategy by working with Great Place to Work chairpersons.
• Market and communicate available resources to support budgeting, employee discounts, and retirement readiness
• Administer BorgWarner's Retirement Transition Program

POSITION COMPETENCIES

Functional and Technical Skills: Has the functional and technical knowledge and skills to do the job at a high level of accomplishment.

Interpersonal Savvy: Relates well to all kinds of people, up, down, and sideways, inside and outside the organization; builds appropriate rapport; builds constructive and effective relationships; uses diplomacy and tact; can diffuse even high-tension situations comfortably.

Process Management: Good at figuring out the process necessary to get things done; knows how to organize people and activities; understands how to separate and combine tasks into efficient work flow; knows what to measure and how to measure it; can see opportunities for synergy and integration where others can't; can simplify complex processes; gets more out of fewer resources.

Informing: Provides the information people need to know to do their jobs and to feel good about being a member of the team, unit, and/or the organization; provides individuals information so that they can make accurate decisions; is timely with information.

Organizational Agility: Knowledgeable about how organizations work; knows how to get things done both through formal channels and the informal network; understands the origin and reasoning behind key policies, practices and procedures; understands the cultures of organizations.

Problem Solving: Uses rigorous logic and methods to solve difficult problems with effective solutions; probes all fruitful sources for answers; can see hidden problems; is excellent at honest analysis; looks beyond the obvious and doesn't stop at the first answers.

Customer Focus: Is dedicated to meeting the expectations and requirements of internal and external customers; acts with customers in mind; establishes and maintains effective relationships with customers and gains their trust and respect.

Drive for Results: Can be counted on to exceed goals successfully; is constantly and consistently one of the top performers; very bottom-line oriented; steadfastly pushes self and others for results.

EDUCATION/EXPERIENCE QUALIFICATIONS

Bachelor's degree in Human Resources, Finance, Business or related discipline required. Minimum 10 years of demonstrated and applicable HR experience; experience in benefits, compensation, payroll and retirement plans is preferred. Knowledge of ERISA and IRS regulations and state laws affecting the administration of the plans. Ability to work well under pressure; able to prioritize multiple projects and adjust workload accordingly. Must be detail-oriented and have strong analytical skills. Must be able to project manage across functions and vendors facilitating meetings as needed. Excellent interpersonal skills and verbal/written communication skills required, inclusive of experience in communicating Benefit programs and Benefit analysis detail. Must possess strong proficiency in Microsoft Office applications, particularly Excel.

What we believe

• Inclusion-We value diversity in people, ideas, and experiences.
• Integrity- We believe in transparency, authenticity, and depend on each other to deliver what we promise.
• Excellence- We contribute to our developments by seeking knowledge and sharing information.
• Responsibility- We care about our local communities and the global environment.
• Collaboration- We are one BorgWarner.

Safety

This position will adhere to Global Star Safety Program, including safety rules, practices and training as outlined in the BorgWarner PTC Safety Policy Manual, which includes the use of equipment, protective devices, or clothing that the employer requires. This individual will work in manners that stress the importance of preventing accidents and illnesses. He/she must take every precaution reasonable in the given circumstance for the protection of themselves and coworkers. In addition, he/she is responsible for reporting all injuries and/or possible dangerous situations, incidents, or occurrences to the immediate supervisor.

Equal Employment Opportunity

BorgWarner is an equal employment opportunity employer such that all qualified applicants will receive consideration for employment without regard to race, color, age, religion, sex, sexual orientation, gender identity/expression, national origin, disability or protected veteran status.

Internal Use Only: Salary

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