mgr savings & retirement (Remote-US)
About the position
- Responsibilities
- Oversee day-to-day operations of Starbucks' Management Deferred Compensation Plan (MDCP), including enrollment, deferrals, distributions, and participant communication.
- Ensure proper and timely execution of partner elections, deferrals, and payouts in accordance with the plan's terms.
- Manage partner relationships, including vendors and internal partners, ensuring efficient plan operation.
- Ensure compliance with all relevant tax codes, ERISA, and other regulatory requirements.
- Prepare and file required reports, such as annual 409A valuations and deferred compensation disclosures.
- Maintain accurate and up-to-date plan documents, ensuring timely amendments to reflect legal and regulatory changes.
- Serve as the primary point of contact for partners, providing education on plan features, enrollment, and distribution options.
- Address partner inquiries regarding plan benefits, account statements, tax implications, and distribution timing.
- Develop and update partner communication materials to enhance understanding of the plan.
- Collaborate with HR, Finance, and Legal teams to ensure that the MDCP aligns with Starbucks' overall executive compensation and retention strategies.
- Analyze plan participation trends and recommend enhancements to ensure the plan remains competitive and attractive to key partners.
- Work with financial and legal advisors to assess the financial impact of the MDCP on the company and propose improvements where necessary.
- Proactively identify and mitigate potential risks related to plan administration, compliance, and partner disputes.
- Requirements
- Bachelor's degree in Finance, Accounting, Human Resources, or a related field.
- 5+ years of experience in compensation or benefits management, with a focus on deferred compensation plans.
- Strong knowledge of tax and legal regulations related to nonqualified deferred compensation (e.g., IRC Section 409A).
- Excellent communication, organizational, and analytical skills.
- Nice-to-haves
- In-depth understanding of nonqualified deferred compensation plans and their tax implications.
- Ability to manage complex projects and ensure accurate, timely execution.
- Strong attention to detail and ability to interpret and apply legal and tax regulations.
- Excellent interpersonal and communication skills for working with parts and cross-functional teams.
- Benefits
- Paid parental leave
- Paid holidays
- Disability insurance
- Health insurance
- Dental insurance
- Vision insurance
- 401(k) matching
- Life insurance
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