The Rewards Specialist, USA Retirement Plans, develops recommendations, plans and monitors rewards delivery to ensure the total rewards offered to employees are in line with market benchmarks & performance for retirement plans, specifically 401K. The role provides guidance to employees, managers and recruiters as well as conducts market analysis to develop competitive programs to attract top talent and comply with local regulations. You will work with cross-functional teams to implement reward programs that support broader business objectives, handles job evaluations, and conducts audits to guarantee compliance with legal and Philips' internal policies.
Your role:
Manages comprehensive rewards programs, including budgeting for merit increases, retention strategies, and incentive plans; conducts market analysis and forecasting to ensure alignment with corporate strategy, and leads compensation benchmarking and policy development to support competitive and compliant practices.
Oversees USA retirement plans with a focus on 401(k), pension, and non-qualified plans—handling plan amendments, fund changes, annual testing, forfeiture management, cost forecasting, and regulatory reporting (e.g., Form 5500, IAS19 compliance, non-discrimination testing); facilitates Retirement Committee meetings and coordinates audits and reconciliations to ensure operational excellence.
Provides expert guidance to managers, recruiters, and employees on rewards and retirement programs; manages vendor relationships, collaborates with payroll, legal, and procurement teams, and drives participant engagement through communications, outreach, and training—ensuring transparency, compliance, and a positive employee experience.
You're the right fit if:
You’ve acquired 3+ years’ experience in areas such as Benefit/Rewards Management, Human Resources or equivalent OR no prior experience required with Master's Degree.
Your skills include experience with rewards policies, regulatory compliance, and data analysis, combined with strengths in program management, resource planning, continuous improvement, and technology acumen to support efficient and compliant rewards strategies. You bring expertise in rewards administration, market intelligence, and auditing techniques, along with a consultative approach to stakeholder and vendor management.
You have a Bachelor's Degree in Human Resources, Business Administration or equivalent.
You must be able to successfully perform the following minimum Physical, Cognitive and Environmental job requirements with or without accommodation for this position.
You're an excellent communicator—persuasive, assertive, and proactive in solving problems and coordinating priorities across stakeholders. You bring strong knowledge of USA benefits plans, with specific experience in 401(k), non-qualified DC and DB plans, and DB pension plans, along with sharp analytical skills, attention to detail, and vendor management expertise. Proficient in Microsoft Excel, you manage multiple priorities with ease, working both independently and collaboratively to deliver results.
How we work together
We believe that we are better together than apart. For our office-based teams, this means working in-person at least 3 days per week. Onsite roles require full-time presence in the company’s facilities. Field roles are most effectively done outside of the company’s main facilities, generally at the customers’ or suppliers’ locations.
This is an office role.
About Philips
We are a health technology company. We built our entire company around the belief that every human matters, and we won't stop until everybody everywhere has access to the quality healthcare that we all deserve. Do the work of your life to help improve the lives of others.
Learn more about our business.
Discover our rich and exciting history.
Learn more about our purpose.
Learn more about our culture.
Philips Transparency Details
The pay range for this position in Nashville, TN is $90,000 to $142,000.
The pay range for this position in Cambridge, MA is $100,000 t0 $159,000.
The actual base pay offered may vary within the posted ranges depending on multiple factors including job-related knowledge/skills, experience, business needs, geographical location, and internal equity.
In addition, other compensation, such as an annual incentive bonus, sales commission or long-term incentives, may be offered. Employees are eligible to participate in our comprehensive Philips Total Rewards benefits program, which includes a generous PTO, 401k (up to 7% match), HSA (with company contribution), stock purchase plan, education reimbursement and much more. Details about our benefits can be found here.
At Philips, it is not typical for an individual to be hired at or near the top end of the range for their role and compensation decisions are dependent upon the facts and circumstances of each case.
Additional Information
US work authorization is a precondition of employment. The company will not consider candidates who require sponsorship for a work-authorized visa, now or in the future.
Company relocation benefits will not be provided for this position. For this position, you must reside in or within commuting distance to Nashville, TN or Cambridge, MA.
This requisition is expected to stay active for 45 days but may close earlier if a successful candidate is selected or business necessity dictates. Interested candidates are encouraged to apply as soon as possible to ensure consideration.
Philips is an Equal Employment and Opportunity Employer including Disability/Vets and maintains a drug-free workplace.