Job Summary:
The Benefits Specialist is responsible for the day-to-day administration and implementation of all benefits programs to include 401(k), medical, dental, flexible spending and dependent care accounts, health savings accounts, life insurance, short term and long-term disability, COBRA, and supplemental programs. This position acts as a liaison between vendors and employees and advises employees on eligibility, coverage, and other benefits matters. The Benefits Specialist works closely with internal stakeholders (e.g. Labor, Finance, HR) and external stakeholders (e.g. multiple unions, government agencies, actuarial companies, legal counsel, 401(k) vendor, and other resources) to ensure that Save Mart is compliant with all requirements and responsive to inquiries.
Essential Duties and Key Responsibilities:
• Participate in the design and maintenance of an equitable and competitive benefits program by identifying, researching, analyzing, evaluating, administering and maintaining the company’s employee benefits programs, including health insurance, life insurance, retirement, wellness, flexible benefits plans and employee assistance programs in compliance with ERISA, HIPAA, COBRA, OSHA, and applicable Federal and/or State employment laws
• Coordinate and ensure accurate balancing and timely submission of weekly wire transmission for 401(k) contributions and all health plan fee wires
• Audit benefits enrollments against contributions deductions to ensure payroll is accurate; reconciles billing against contributions; makes recommendations on discrepancies
• Partner with the Director, Benefits and Leaves to ensure effective implementation of Annual Open Enrollment; assists with the preparation of educational materials and presentation of benefits plan changes to employees
• Monitor and evaluates benefits program to ensure compliance with state and federal regulations and record-keeping standards; audits and administers benefits plans for employee participation in an accurate and effective manner
• Produce weekly reports to track employment changes to ensure that employees are moved to the appropriate benefits plan(s) with the correct effective date(s)
• Audit health plans, and assists with filing of 5500's and securing appropriate documentation; ensures various limits and quality testing are accomplished to ensure accurate W-2, and 5500
• Assist in managing the employee benefits selections with vendor partners to ensure accuracy of enrollment and appropriate documentation is secured and electronically filed
• Assist employees with benefits related questions, plan selections and claims issues; investigates and provides problem resolution or identifies issue for further review
• Monitor all reports supplied from various vendors for accuracy of deductions; performs weekly, monthly and quarterly balances of all benefits deductions and secures vendor payments through Finance
• Work closely with the 401(k) vendor to ensure that participant’s retirement account is securely handled; oversees weekly contributions and loan deductions
• Monitor trends and keeps abreast of changing Federal and State regulations and legislation that may affect employee benefits
• Troubleshoot unresolved benefits issues with vendors and HR representatives, serving as one of the liaisons between benefits, HRIS, payroll and vendor
• Coordinate commuter benefit programs and works with outside agencies to secure vouchers and gift cards; coordinates retirement programs including auditing employee eligibility; sends out gift cards and secures retiree health benefits; coordinates death benefits and Long Term Disability benefits; handles QDRO coordination between employees and external vendor
• Perform other duties as assigned
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