Benefits Manager- Financial Wellness

The Benefits Manager- Financial Wellness is responsible for the strategic and operational oversight of Labcorp’s financial benefit programs. This role ensures effective administration, compliance, and enhancement of retirement, health savings, and financial wellness plans, while fostering employee financial well-being through thoughtful program design and vendor partnership management. This role supports overall workforce productivity and retention by reducing financial stress and aligning benefit offerings with employees’ financial needs at different life stages.

Duties and Responsibilities:

• Oversee 401(k) Plan Administration and ensure that the plan operates in accordance with all regulatory requirements, maximizes employee participation, and aligns with the organization's financial and benefits strategy.
• Serve as the 401(k) Committee Moderator.
• Research and identify data-driven and relevant financial wellness topics like budgeting, debt management, retirement planning, and spending strategies.
• Partner with Senior Manager of Wellbeing on the design of a comprehensive financial wellness curriculum, including online modules, workshops, webinars, and personalized consultations.
• Manage Pension Plans and Deferred Compensation Programs, ensuring regulatory compliance and accurate participant records.
• Administer FSA, HSA, HRA, and commuter benefit programs, optimizing enrollment processes and resolving participant issues.
• Lead the annual benefit audit process, coordinating with internal teams and external auditors to ensure data accuracy and timely reporting.
• Manage COLI (Corporate-Owned Life Insurance) and Retiree Medical benefit programs.
• Provide support for annual proxy reporting and maintain compliance documentation.
• Deliver strategic plan recommendations to improve benefit offerings, cost-efficiency, and employee financial outcomes.
• Collaborate on systems integrations and resolve benefits-related data errors and reporting discrepancies.
• Oversee vendor relationships with financial wellness providers including performance monitoring and SLA (Service Level Agreement) compliance.
• Develop and implement strategies to increase employee participation and contribution rates in collaboration with key stakeholders.
• Monitor and communicate program effectiveness to senior leaders and various stakeholders.
• Stay current on retirement plan legislation and industry best practices; make recommendations for plan changes and consult with the benefit team's legal partner to ensure compliance with ERISA, IRS, DOL, and other applicable regulations.
• Ability to get up to speed quickly with demonstrated learning agility to learn the history and administration of legacy pension and retiree medical plans.

Minimum Education and Experience Required:

• Bachelor's degree in Human Resources, Business Administration, or a related field.
• 5+ years of experience in benefits administration, with a focus on retirement, financial wellness programs, and experience in pension administration.
• Strong knowledge of ERISA, IRS, and DOL regulations.
• Experience working with retirement plan recordkeepers, TPAs, and fiduciary advisors.
• Project Management skills.
• Proven track record of managing benefits programs for organizations with over 40,000 employees.
• Excellent communication and interpersonal skills
• Ability to maintain strict confidentiality and handle sensitive employee information with discretion.

Preferred Qualifications:

• Experience with benefits administration in unionized environments.
• Experience managing multiple vendor partner relationships
• Workday experience preferred

Skills and Competencies:

• Strategic thinker with a strong operational mindset and attention to detail.
• High diligence and ability to manage multiple deadlines.
• Strong analytical and problem-solving skills, with the ability to identify and resolve benefits-related issues.
• Highly effective written and verbal communication skills to interact with all levels of leadership.
• Collaboration effectiveness and ability to work cross-functionally with multiple stakeholders.

Working Conditions:

• RTP or Burlington, NC or Remote position
• Travel limited and as-needed

Application Window: Open through 6/10/25

Pay Range: $100,000 - $130,000 + annual bonus

All job offers will be based on a candidate’s skills and prior relevant experience, applicable degrees/certifications, as well as internal equity and market data.  

The position is also eligible for an annual bonus under the Labcorp Bonus Plan.  Bonuses are payable ba