Senior Benefits Specialist

4 weeks ago

Franklin Township, United States Terumo Medical Corporation Full time

Job Summary:

The Senior Benefits Specialist will provide support to the Benefits department with the development, implementation, administration, and communication of the Employee Health and Welfare Benefits Plans and Executive Benefit Plans. This position will provide support to Retirement Plans, including Pension, 401(k), and Non-Qualified plans and will ensure compliance with policies and regulations. This individual will report findings with appropriate recommendations in a timely manner. This position will assist in driving other initiatives in the areas of Wellness programs. This individual will report to and consult with the Senior Manager of Benefits on complex assignments, precedent setting actions, and actions that impact either other functional area or key working relationships. Additionally, will act as a lead resource for day to day administrative operations of the benefits team.

Job Details:

Support to Health and Welfare Benefits program including, but not limited to, Medical, Prescription, Dental, Vision, Life, Disability, Employee Assistance Program, and a variety of voluntary benefit programs

Support for 401(k) Plan, Pension Plans, and Non-qualified Deferred Compensation Plan administration

Responsible for 401(k) plan reconciliation of payroll deductions to ensure timely and accurate funding to participant’s accounts

Organize and manage annual 401(k) compliance testing (i.e. non-discrimination testing)

Analyze current benefits, evaluate usage, services, coverage, plan experience, competitive trends in benefits programs and provide recommendations for annual plan design that will provide enhancement and cost control

Complete benefits surveys

Support all aspects of Annual Open Enrollment Process

Maintain benefit portal plan design and set-up in conjunction with third party vendor.

Ensure accuracy of data exports to carriers, vendors and payroll system as well as individual Associates

Organize and manage Annual External Audits and 5500 preparation of 401(k) and Pension plans

Organize and manage routine and annual audit and reporting of benefit/payroll related data in various systems: Benefit Portal, Vendor/Carrier portals and Payroll Data Base

Serve as a contact person for vendors and associates on Wellness initiatives and programs

Provide support for acquisition integration and organization restructuring efforts

Perform other job related duties as required

Position Requirements:

· Knowledge, Skills and Abilities (KSAs)

Ability to work independently with limited supervision

Ability to deal effectively with external vendors and carriers

Interpersonal skills to deal with Human Resources and Finance staff within TAH, group companies, and secure cooperation

Financial acumen to identify and correct deficiencies in processes in order to maintain compliance in accordance with applicable laws

Position involves working with numerous subsidiary Human Resource and Accounting/Finance Departments thus experience establishing relationships and working in a matrix organization is critical

· Background Experiences

BA or BS

Minimum 5 years benefits experience

Excellent understanding of Microsoft Office Suite, especially Excel

Familiarity with payroll systems a plus but not required

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