Our client a major Westchester employee is actively in search of a Benefits Specialist.
The job description is as follows:
- Participate in compliance of ISP as well as hourly savings plans among company'’s various units.
- Perform various daily, weekly and monthly reconciliations between company's, record keeper and trustee to ensure compliance of the ISP.
- Reconcile excess savings plan between company and the record keeper.
- Assist in the preparation of financial statements for the hourly savings plans for inclusion in the yearly 5500 tax filings.
- Work as a liaison with the external auditors focusing on audit issues as they relate to the ISP and hourly savings plans.
- Participant, evaluate and assist in corrective actions in the annual ISP non-discrimination testing in compliance with ERISA and Department of Labor regulations.
- Review Power of Attorneys (POA) and Qualified Domestic Relations Order (QDRO) for the ISP.
- Process all incoming invoices for services rendered to the ISP, assign costs between the plan and the company. Maintain statistical tables of costs charged to the plan and track to
amounts charged to employee accounts and advise plan management as to the status so that adjustments can be made in a timely manner to employee charges.
- Participate in operational and compliance review of various company's hourly savings plans.
- On-site visit to various units of company to review operational efficiency of their hourly savings plan.
- Collect and test hourly plan data and documentation to ensure compliance of the plan.
- Remain current on all regulatory requirements to ensure compliance. Review and maintain company's Policies to ensure compliance with regulatory requirements such as, but not limited to
HIPPA.
- Act as a liaison between the employees, plan Record keeper and benefits center representatives for investment savings plan (ISP) issues requiring company intervention.
- Respond to issues raised by field units relative to problems escalated to the HQ level. Coordinate these matters with HR Benefits.
- In conjunction with legal counsel, assist in the processing of complex death cases requiring plan distributions. Coordinate review efforts with the plan Record keeper for special case
beneficiary provisions to ensure that company requirements are met.
- Provide assistance in analyzing requirements brought about by plan changes and implementation thereof.
Apply for this job
