Hybrid Benefits Compliance Specialist

at Frost Brown Todd

• Job title: Benefits Compliance Specialist
• Job type: Full Time
• Experience level: Mid level, Senior
• Salary: Not specified
• Degree requirement: Bachelor's Degree
• Location requirements: Hybrid, West Chester, United States

About the role

• Benefits Compliance Specialist ensuring compliance with employee benefit programs at FBT Gibbons LLP. Overseeing health and retirement plans and managing related compliance requirements.

Responsibilities

• Manage operational oversight of legal compliance requirements for the firm’s health and welfare and retirement plans, including reviewing legislation, monitoring regulatory changes and collaborating on solutions to ensure ongoing compliance.
• Oversee day-to-day retirement plan operations for all defined contribution (DC) and defined benefit (DB) plans, ensuring compliance with ERISA and IRS regulations.
• Field inquiries from employees, manage reporting requirements, and act as liaison with third party administrators.
• Gather data required for annual plan testing, contribution calculations, non-discrimination testing and Form 5500 filings for all health and welfare and retirement plans.
• Coordinate with vendors to ensure accurate and timely completion.
• Prepare annual benefit compliance filings, including annual EEO-1, ACA requirements, PBGC, PCORI and Medicare Part D, ensuring timely and accurate submission.
• Track and assess changes in laws and regulations affecting employee benefit and retirement plans to ensure ongoing compliance.
• Prepare and communicate the annual compliance schedule to the team, ensure all compliance items meet deadlines, and confirm and record completion for the annual review process.
• Coordinate completion of the annual retirement plan audits with auditors, providing necessary documentation to finalize reporting.
• Conduct audits of all benefit, retirement and payroll data to ensure accuracy and compliance.
• Coordinate with the team to address gaps and ensure reporting meets firm needs.
• Oversee the Qualified Domestic Relations Order (QDRO) process, including reviewing filings, coordinating with Benefits Committee counsel for approval, and managing communications with all involved parties throughout the process.
• Coordinate the Cash Balance plan distribution process, including working with the vendor to communicate options to terminated participants, managing payments for approved distributions, and distributing annual statements.
• Oversee annual benefit notice distributions, including coordinating necessary reviews for updating the notice for annual changes and preparing the final notice for distribution and posting.
• Support annual retirement plan budgeting, serve as backup for leave administration, and collaborate on benefit-related projects, education initiatives, and open enrollment activities.

Requirements

• Bachelor’s degree and a minimum of 3 years of experience working in retirement plan and/or health and welfare administration are required.
• Equivalent combinations of education and experience will be considered.
• Experience with federal and state regulations, filing and compliance requirements, including ERISA, COBRA, FMLA, Section 125, Medicare, IRS, and DOL required.
• Experience with HRIS systems and Microsoft Office products, including Excel and Word required.
• Ability to analyze data using formulas and reporting tables is preferred.
• Strong analytical skills for reviewing and auditing procedures, reports, and benefits billing.
• Effective planning and prioritization skills, with the ability to manage multiple projects simultaneously and meet deadlines under pressure.
• Exceptional client service, including clear communication, professional handling of challenging situations, adaptability, and collaboration in a team environment.
• Sound decision-making skills, including exercising judgment, explaining reasoning, involving appropriate individuals in the decision-making process, and making timely decisions.
• Ability to identify opportunities, anticipate challenges, and implement solutions to improve processes, ensure compliance and support firm goals.
• Accuracy and thoroughness, including applying feedback and monitoring work to ensure high standards.
• Flexibility and adaptability to changing work environments, managing competing demands, and adjusting approaches to meet unexpected challenges.

Benefits

• health care coverage (medical, dental, and vision)
• life insurance
• short- and long-term disability
• paid parental leave
• employee wellbeing and EAP programs
• paid time off
• 401(k) retirement plan with employer matching and profit-sharing