Senior Benefits Specialist Reporting to the Director of Benefits, this role will manage and provide strategic leadership and operational oversight for the health and retirement programs. The Senior Benefits Specialist is responsible for the overall design of quality benefits plans. Continually investigates new benefits programs and improves existing programs. Responsible for vendor management, invoicing, and program expense management. This role manages the company 401k program, from funding and trust reconciliation process, to non-discrimination testing, 5500s and annual audits.
Responsibilities:- Serves as strategic expert to leadership for US retirement programs
- Develops and maintains the strategic engagement framework for partnerships with Finance, Controllership and Payroll in relation to program interdependencies
- Design and distribute materials for benefits orientations, open enrollment and summary plan descriptions. Provide employee training on new programs and annual changes.
- Analyze current benefits, evaluating the use, services, coverage, effectiveness, cost, plan experience and competitive trends in benefits programs, and identify the company's stance.
- Review both short- and long-range cost estimates/projections and relevant statistical analyses regarding modifications in benefits programs and implementation of new programs.
- Survey industry trends. Complete benefits surveys and review information obtained from the results. Analyze complex benefits information. Forecast trends and assist with future benefits designs. Develop specific recommendations for review by management.
- Oversee benefits compliance with applicable government regulations. Ensure timeliness and accuracy of required reporting and fees.
- Monitor administrative costs of benefits programs and recommend cost containment strategies, including alternative methods for administration and funding. Prepare budgetary recommendations and assist in the monitoring, verifying and reconciling of budgeted funds.
- Research employee benefits plans and vendors to identify those that present the best value.
- Design and recommend new benefits programs. Examine possible plan designs and benefits cost changes.
- Develop communication tools to enhance understanding of the company's benefits package.
- Manages 401(k) funding process. Reconciliation. NDT, 5500s, audits
- Manage the annual renewal calendar in collaboration with outside healthcare consultants. Assist consultants in obtaining data and information for renewal process of any health, life and retirement plans that benefit the company.
- Distributes all benefits enrollment materials and determines eligibility.
- Serve as primary contact for plan vendors and third-party administrators. Owns vendor management for entire benefits function
- Invoicing? Verify the calculation of the monthly premium statements for all group insurance policies and maintain statistical data relative to premiums, claims and costs.
- Gather employee data and oversee the processing of monthly billings and the preparation of vouchers for payment of administrative fees for all group plans.
Skills: 5 plus year of relevant experience
This role requires deep benefits expertise and a strong focus on reporting, controls and management of the US 401(k) plan, benefits financial plans & budget control and engagement with the Investment Review Committee Knowledge of all pertinent federal and state regulations, filing and compliance requirements, both adopted and pending, affecting employee benefits programs, including the ACA, ERISA, COBRA, FMLA, ADA, Section 125, workers' compensation, Medicare, OBRA, and Social Security and DOL requirements. Extensive knowledge of employee benefits and applicable laws. Excellent written and verbal communication skills. Excellent organizational and time management skills. Effective planning and priority setting. Ability to manage several complex projects simultaneously while working under pressure to meet deadlines. Strong analytical skills and a thorough knowledge of plan designs. Qualities that Stir our Souls (and make you stand out):Workday Pro or Workday Benefits certification a plusCEBS, PHR/SPHR, or SHRM-CP/SCP preferredSRS Perks & Benefits: Weekly PayDay One 401(k) Plan participation with Generous Company Match Generous Paid Time Off, Holidays, Birthday, and Floating Holidays…. and more Paid Parental Leave Medical, Dental and Vision Benefits Employee Referral Bonus Program Our Culture that Inspires You to Click and 'Apply': SRS Culture
Job Location: SRS Distribution - McKinney 7440 State Highway 121 McKinney, TX 75070-3104
