Benefits Analyst - 500437

Job description

Benefits Analyst - 500437

SUMMARY:

Responsible for compliance, maintenance, and analysis of the University's benefit programs including, problem resolution, reconciliation of accounts, and accurate and timely payment to vendors. Monitor retirement plan IRS limits for 403(b) retirement plan. Work closely with outside auditors to ensure a successful annual retirement plan audit. Manages retiree medical benefit program. Ensure compliance with the Affordable Care Act (ACA).

RESPONSIBILITIES

Retirement Plan

  • Manages the University's annual 403(b) retirement audit to ensure a positive outcome:
    • Pre-audit: reviews and reconciles on a quarterly basis
    • Audit: prepares, communicates, coordinates required information
    • Post: coordinates filing and distributes the annual report
  • Manages the 403(b) retirement plan
    • ensuring timely payment of retirement contributions
    • resolving questions/issues with TIAA regarding employee contributions, IRS limits, employee eligibility and accuracy of payroll deductions
  • Manages the 457(b) top hat plan for executives
    • Ensures eligible employees receive enrollment information
    • Calculates annual employer contributions
    • Ensures timely notification to vendor of terminations or non-eligibility
  • Ensures all 457(f) plans are paid on a timely manner and paid out as required by contract
  • Ensures annual Qualified Default Investment Alternative (QDIA) is distributed annually

Welfare Plans

  • Manages all benefit accounts to ensure appropriate payment is made
  • Communicates with vendors any changes and adjustments to policies
  • Determines when and how much to bill employees for benefits due to retirement, leave of absence, disability and ACA. Communicates to the employee, URHR and Accounting.
  • Works with Cobra vendor to ensure accurate Cobra Administration
  • Provides customer service to employees on more complex benefit issues; including death benefits, disability, leave etc.
  • Investigates and resolves any payment issues
  • Assists with design and implementation of online Open Enrollment system.
  • Maintains positive working relationship with plan representatives, assists in researching and resolving employee benefit issues in a timely manner
  • Compliance:
    • Works with Benefits Consultant to prepare and file annual form 5500 Welfare Benefits Plan and ensure distribution of the summary annual report (SAR)
    • Works with FSA administrator to conduct non-discrimination testing, if needed prepares communication to employees involved, reduces annual limit and payroll deduction
    • Ensures the annual Creditable Coverage Notification is sent to all health plan participants
    • Ensures the annual PCORI Fee is paid by the Controller's Office
    • Annually disclose number of Creditable Coverage to Centers for Medicare Services

Retiree, Disabled & Death Benefits

  • Manages UR retiree & spouse health insurance program
  • Advises prospective retirees regarding University benefits during retirement including medical coverage
  • Counsels faculty on the Tenure Buy-Out program; eligibility, benefits, etc
  • Plan and organize annual retiree medical meeting
  • Manages disabled employees' medical benefits
  • Counsels family members on death benefits

Affordable Care Act (ACA) compliance (20%)

Ensures University compliance with ACA

  • Determines, using the vendors system, when employees are eligible to be offered medical coverage through ACA and notify HRSC to make offer
  • Communicates with employees who are eligible for medical coverage due to ACA
  • Works with vendor to produce annual 1095C tax forms
  • Works with vendor as questions arise to determine eligibility of employees

QUALIFICATIONS:

  • Planning and organization skills
  • Detail oriented skills
  • Microsoft Office proficiency
  • Microsoft Excel advanced skills
  • Problem solving skills
  • Oral and written communication skills
  • Interpersonal skills
  • Ability to interpret billing/financial documents
  • Works with limited supervision, independent judgment required

EDUCATION & EXPERIENCE:

  • Bachelor's Degree and 3-5 years of benefit experience; or an equivalent combination of education and experience

WORK HOURS:

  • Full-time, exempt position
  • Monday - Friday, 8:30 a.m. - 5:00 p.m.; 7.75 hrs./day; 38.75 hrs./week

SALARY STRUCTURE:
Pay Grade 7 (Hiring Range $52,829.00 to $69,999.00 annually)

EOE

 

 

 

Diversity Profile: University

 

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Job No: req2171
Posted: 5/4/2021
Application Due: 7/3/2021
Work Type: Full Time
Salary: Negotiable