Lockton, Inc.
Job Summary:
The Benefits Specialist works closely with the benefits consulting teams who help place employee benefit plans for our clients. We handle administration of these benefit plans including systems interactions, employee interactions and working closely with our clients to be sure their benefit plan administration runs smoothly.
•Administers various benefits plans for various clients including medical, prescription drug, dental, vision, life insurance, short and long-term disability, flexible spending accounts, Ancillary plans, wellbeing and retirement plans.
•Answers questions and provides information and assistance regarding benefits and related human resources programs, plans, policies, procedures, rules, and regulations in a timely manner.
•Processes and audits vendor bills and prepares for payment.
•Recommends solutions to improve services, implement processes, and partner with HRIS, Audit and Payroll to support best practices.
•Manages the maintenance and storage of employee benefit records, accurate employee data entry in HRIS system and ensures the appropriate administration of benefits enrollment, retirement and other transactions.
•Provides research, reporting and analytical support as required.
•Coordinates and corresponds with various internal and external contacts, such as benefit carriers, employees, HR department representatives, and auditors.
•Reviews communications on new plans and policies and communicates new plans, policies, as required to employees and HR.
•Coordinates annual open enrollment activities and oversees preparation and assembly of all materials.
•Prepares and completes correspondence, various reports, and presentations as needed for communication with the client and their employees.
•Attends and participates in client group calls; stays abreast of new trends and innovations in the field of benefit administration.
•Exercises judgment and discretion in seeking advice to ensure compliance with federal laws such as ERISA, HIPAA, ACA, COBRA and any other state legislation.
•Responsible for the day-to-day administration and the relationship with current vendors/record keepers/trustees for multiple clients and plans.
•Streamlines recordkeeping processes for management and administration of all defined contribution and plans. Ensures compliance with laws as well as with company policies and procedures.
•Initiates process and prepares reporting for nondiscrimination testing, internal and external audits, Form 5500s, special filings and summary annual reports to internal departments and outside vendors.
•Responsible for reviewing loan monitor reports and updating participant loans as needed or requesting reamortization from the record keeper.
•Reviews Summary Plan Descriptions as they are updated for accuracy and ensure the language matches actual plan practice.
•Processes contributions, determine eligibility, load election and loans and other retirement related data updates.
Requirements:
• Five or more years of professional experience in benefits administration.
• Bachelor's Degree is required.
• Strong knowledge of HRIS/benefits administration systems, with knowledge of Time and Attendance and payroll systems.
• Good understanding of Healthcare Reform.
• Experience in completing root cause analysis of system errors, ability to understand the way data flows, organizational structure in systems.
• Familiarity with carrier administration systems (i.e. BCBS, UHC, CIGNA, Delta, Aetna) and ability to trace a disconnect between the Ben Admin system and the carrier.
• In-depth knowledge of benefit specific guidelines of DOL, IRS, ERISA, HIPAA and ACA.
• General knowledge of annual benefits-related compliance filings (Form 5500).
• Ability to oversee the day-to-day operations of employee benefit plans and programs including flexible benefits programs, group medical and life insurance plans, disability programs including FMLA administration, retirement plans.
• Works under steady pressure with frequent interruptions and a high degree of contact by email and/or phone.
• The flexibility to easily adapt to changing priorities.
• Self-directed, works with limited supervision.
• Exercises good judgment and maintains confidentiality with critical and sensitive information, records, and reports.
• Ability to interface with company leaders and represent the company in a professional manner.
• On a very rare occasion, may need to be able to pass drug screening and answer any applicable COVID-19 questionnaire based on client needs. This would be at no cost to you and would be based on acceptable testing guidelines as provided by recommendations from the DOL, EEOC, ADA and CDC both at the State and Federal level for business necessity.
#LI-LL1
The Benefits Specialist works closely with the benefits consulting teams who help place employee benefit plans for our clients. We handle administration of these benefit plans including systems interactions, employee interactions and working closely with our clients to be sure their benefit plan administration runs smoothly.
•Administers various benefits plans for various clients including medical, prescription drug, dental, vision, life insurance, short and long-term disability, flexible spending accounts, Ancillary plans, wellbeing and retirement plans.
•Answers questions and provides information and assistance regarding benefits and related human resources programs, plans, policies, procedures, rules, and regulations in a timely manner.
•Processes and audits vendor bills and prepares for payment.
•Recommends solutions to improve services, implement processes, and partner with HRIS, Audit and Payroll to support best practices.
•Manages the maintenance and storage of employee benefit records, accurate employee data entry in HRIS system and ensures the appropriate administration of benefits enrollment, retirement and other transactions.
•Provides research, reporting and analytical support as required.
•Coordinates and corresponds with various internal and external contacts, such as benefit carriers, employees, HR department representatives, and auditors.
•Reviews communications on new plans and policies and communicates new plans, policies, as required to employees and HR.
•Coordinates annual open enrollment activities and oversees preparation and assembly of all materials.
•Prepares and completes correspondence, various reports, and presentations as needed for communication with the client and their employees.
•Attends and participates in client group calls; stays abreast of new trends and innovations in the field of benefit administration.
•Exercises judgment and discretion in seeking advice to ensure compliance with federal laws such as ERISA, HIPAA, ACA, COBRA and any other state legislation.
•Responsible for the day-to-day administration and the relationship with current vendors/record keepers/trustees for multiple clients and plans.
•Streamlines recordkeeping processes for management and administration of all defined contribution and plans. Ensures compliance with laws as well as with company policies and procedures.
•Initiates process and prepares reporting for nondiscrimination testing, internal and external audits, Form 5500s, special filings and summary annual reports to internal departments and outside vendors.
•Responsible for reviewing loan monitor reports and updating participant loans as needed or requesting reamortization from the record keeper.
•Reviews Summary Plan Descriptions as they are updated for accuracy and ensure the language matches actual plan practice.
•Processes contributions, determine eligibility, load election and loans and other retirement related data updates.
Requirements:
• Five or more years of professional experience in benefits administration.
• Bachelor's Degree is required.
• Strong knowledge of HRIS/benefits administration systems, with knowledge of Time and Attendance and payroll systems.
• Good understanding of Healthcare Reform.
• Experience in completing root cause analysis of system errors, ability to understand the way data flows, organizational structure in systems.
• Familiarity with carrier administration systems (i.e. BCBS, UHC, CIGNA, Delta, Aetna) and ability to trace a disconnect between the Ben Admin system and the carrier.
• In-depth knowledge of benefit specific guidelines of DOL, IRS, ERISA, HIPAA and ACA.
• General knowledge of annual benefits-related compliance filings (Form 5500).
• Ability to oversee the day-to-day operations of employee benefit plans and programs including flexible benefits programs, group medical and life insurance plans, disability programs including FMLA administration, retirement plans.
• Works under steady pressure with frequent interruptions and a high degree of contact by email and/or phone.
• The flexibility to easily adapt to changing priorities.
• Self-directed, works with limited supervision.
• Exercises good judgment and maintains confidentiality with critical and sensitive information, records, and reports.
• Ability to interface with company leaders and represent the company in a professional manner.
• On a very rare occasion, may need to be able to pass drug screening and answer any applicable COVID-19 questionnaire based on client needs. This would be at no cost to you and would be based on acceptable testing guidelines as provided by recommendations from the DOL, EEOC, ADA and CDC both at the State and Federal level for business necessity.
#LI-LL1