- Explains retirement benefit plan policies, procedures, and legal requirements to employees and beneficiaries.
- Conducts retirement and benefits-related calculations and analysis including repurchase of service, withdrawal of contributions, and deferred retirement.
- Ensures the accurate and timely submission of plan contributions.
- Conducts group benefits presentations for and/or individual interviews with employees regarding retirement and pension options.
- Acquires and distributes relevant information and documentation to plan participants and beneficiaries.
- Develops and maintains records of participants and beneficiaries including active, deferred, retired, and separated members.
- Serves as a liaison between beneficiaries and participants and the plan administrator, handling or facilitating requests for contribution adjustments, refunds, and other administrative changes.
- Coordinates with actuaries, plan administrators, accountants, and other professionals to provide verified and compiled data for administration of benefits.
- Assists with auditing of plans, including non-discrimination testing.
- Provides support to retiree benefit plan as needed.
- Ensures retirement plans are administered in accordance with company, state, and federal guidelines and regulations.
- Maintains knowledge of legal and regulatory changes, trends, and other developments affecting retirement benefits.
- Performs other duties as assigned.
- Bachelors degree in business administration, Human Resources, or related field required.
- Excellent computer skills, including Microsoft Office; experience with Banner human capital management (HCM) software a plus.
- Strong analytical skills and attention to detail.
- At least two years of experience with retirement, insurance benefits, financial planning, or actuarial services required.
- Strong interpersonal skills.
- Ability to communicate effectively with all levels of faculty, staff, and management.
- Ability to work independently.
- Extensive Use of Computers
- Able to lift up to 5 lbs.
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Retirement Benefits Specialist - Valhalla, United States - New York Medical College
Description
Overview:
The Retirement Benefits Specialist will assist employees with retirement and healthcare plans and will provide administrative support for those plans to employees, retirees, and beneficiaries. The Specialist is responsible for timely completion of plan administration, audits, and the submission of plan contributions. Coordination with internal partners (e.g., Finance) and external partners (plan fiduciary and consultants) is a critical aspect of the role. The Specialist will coordinate plan administration, standardized processes and collaborate on projects with colleagues in the Touro University Human Resources Department. The Specialist reports directly to the NYMC Director of Human Resources, with a dotted line to the Touro University Director of Benefits.
Flexible work arrangements including hybrid work opportunities are available (upon approval).
Responsibilities:Education requirement:
Technical/computer skills:
Prior experience:
Other skills/requirements
Physical Demands
Physical:
USD $62,400.00/Yr.
Maximum Salary:
USD $72,000.00/Yr.
