Director – Retirement Plans
Abbott
Director – Retirement Plans
Abbott
Makes heart devices, glucose sensors and lab tests
The Director, Retirement Plans is responsible for the strategy, governance, administration, and ongoing evolution of Abbott’s U.S. and Puerto Rico retirement programs, including defined benefit pension plans, defined contribution savings plans, and the Freedom 2 Save student loan program. The role provides strategic leadership for retirement program design, regulatory compliance, vendor management, participant experience, and operational excellence while ensuring programs remain competitive, financially sustainable, and aligned with Abbott’s total rewards philosophy.
The position partners closely with Benefits & Wellness leadership, Finance, Legal, Payroll, M&A, Executive Compensation, Human Resources, and external service providers to deliver retirement programs that support Abbott’s workforce, retirees, and business objectives.
Key Responsibilities
· Lead retirement plan strategy, design, governance, and compliance for U.S. and Puerto Rico retirement programs.
· Monitor legislative, market, and business developments and recommend program enhancements.
· Support audits, actuarial valuations, and retirement plan integration activities related to M&A transactions.
· Lead retirement plan vendor selection processes, including RFPs, contract negotiations, transitions, and implementation activities.
• Oversee administration of defined benefit, defined contribution, and student loan repayment programs.
• Ensure effective plan operations, vendor performance, regulatory compliance, and participant experience.
• Resolve complex administrative, regulatory, and participant matters.
• Manage relationships with external providers, consultants, and key internal stakeholders.
• Serve as the primary retirement subject matter expert, influencing decisions across functions and leadership levels.
• Direct retirement communications, education, and engagement strategies for employees and retirees.
• Lead and develop the retirement plans team while driving continuous improvement and operational excellence.
• Oversee retirement program financial performance, pension funding activities, budgets, and risk management controls.
• Responsible for retirement programs supporting approximately 42,000 U.S. employees, 1,500 Puerto Rico employees, and 38,000 retirees.
• Oversees defined contribution plans with approximately $19 billion in assets and defined benefit plans with approximately $7.5 billion in projected benefit obligations.
• Reports to the Divisional Vice President, Benefits & Wellness and leads a team of two direct reports.
• Influences retirement strategy and decision-making across multiple functions, business units, and leadership levels.
Qualifications & Experience
• Bachelor’s degree required; advanced degree and/or relevant professional certification preferred.
• 10+ years of progressive experience in retirement, benefits, or related fields, including leadership responsibility in a large, complex organization.
• Experience managing retirement programs within a large corporate environment; Fortune 500 experience preferred.
• Demonstrated experience managing retirement programs, external vendors, consultants, and cross-functional stakeholder relationships.
• Experience leading retirement plan vendor evaluations, RFPs, implementations, and ongoing governance processes.
• Experience supporting retirement-related aspects of mergers, acquisitions, divestitures, integrations, or other significant organizational changes.
• Strong knowledge of defined benefit and defined contribution plans, including applicable U.S. and Puerto Rico regulatory requirements.
• Proven analytical, project management, communication, and influencing skills, with the ability to lead complex initiatives and engage senior leader
Acts as a strategic leader who balances participant experience, compliance, governance, operational excellence, and financial stewardship.
Builds trusted partnerships across the organization, drives continuous improvement, and develops high-performing teams while advancing Abbott’s retirement strategy and long-term workforce objectives.
WHAT WE OFFER
At Abbott, you can have a good job that can grow into a great career. We offer:
Learn more about our benefits that add real value to your life to help you live fully: www.abbottbenefits.com
Follow your career aspirations to Abbott for diverse opportunities with a company that provides the growth and strength to build your future. Abbott is an Equal Opportunity Employer, committed to employee diversity.
Connect with us at www.abbott.com, on Facebook at www.facebook.com/Abbott and on Twitter @AbbottNews and @AbbottGlobal
The base pay for this position is
$149,300.00 – $298,700.00In specific locations, the pay range may vary from the range posted.
Abbott makes medical devices, diagnostic tests, nutrition products and branded generic drugs for hospitals, laboratories, pharmacies and patients. Its best-known product is the FreeStyle Libre, a coin-sized sensor worn on the upper arm that tracks blood sugar around the clock without routine finger pricks. Its other lines run from heart valves, pacemakers and brain stimulators to lab analyzers, rapid tests and mail-in colon cancer screening kits, and Abbott earns money by selling these products to health systems, labs, retailers and consumers. The company was founded in 1888 by Chicago physician Wallace Abbott and is based in Abbott Park, Illinois.
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