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Savings Plan Benefits Specialist

Lockheed Martin Corporation

This is a Full-time position in Bethesda, MD posted June 9, 2021.

Job Description
Administer the company’s qualified savings plans and non-qualified deferred compensation (NQ) plans;Research, analyze, resolve, and respond to participant, payroll, business area, and recordkeeper inquiries regarding savings plan eligibility, contributions, account data, and benefit provisions;Assist with gathering and reviewing participant census data, and preparing data collection for non-discrimination testing, coverage testing, and year-end filings;Prepare Annual Regulatory Notices, and other plan communications;Stay abreast of current legal updates, requirements, and industry trends relating to retirement savings plans;Serve as a back-up to the plan funding process; and:
o Partner with payroll and the recordkeeper to ensure participant records, deductions, and deposits are updated and processed timely and accurately;

o Review and reconcile weekly payroll contributions between Payroll, recordkeeper, and business area billing for over 100K active employees;

o Ensure plan contributions comply with plan and IRS limits; and

o Submit weekly wire requests timely and accurately.
Comply with Legal directions on Insider Trading Rules (Section 16B)Arrange, validate, and deliver timely and accurate executive reporting (such as 16B reports) to the Legal department and Corporate Secretary.Other job duties as assigned.
Telecommuter status is subject to change based on business needs and Leadership discretion.

Basic Qualifications
Experience with qualified savings plans (including 401(k) plans) and non-qualified savings plans;Some general understanding of accounting principles is a plus;Good understanding of employer-sponsored retirement savings plans regulations such as the applicable IRS, ERISA, and DOL regulations.