Benefits Specialist

Covenant Health•Knoxville, TN

24d

About The Position

The Benefits Specialist works under general direction to develop policies and benefit plan documents for qualified and non-qualified retirement plans covering all employee classes. The role works with the Benefit Analyst to assess retirement and pension plan equity against current trends, ensure legislated requirements are met, and coordinate with outside counsel on federal and state compliance. The position handles confidential information and performs project work involving data management, collection, entry, reporting, and auditing. It also supports Benefits Team special projects and serves as a lead for less senior benefits employees, providing guidance on daily tasks and projects. The role oversees the accuracy of participant and employee data, plan deduction information, and retirement plan contribution data in the HRIS system, including payroll transfers to Fidelity. It supports retirement plan administration, claims and distributions, annual reporting, audits, nondiscrimination testing, employer match calculations, executive deferred compensation, employee communications, plan asset transitions, participant disclosures, and Finance Committee meetings. The position follows policies, procedures, and safety standards, completes required annual education, and participates in quality improvement initiatives.

Requirements

Bachelor of Science in Management, Business, or a related field; the position summary also allows appropriate equivalent experience.
At least five years of experience in Human Resources and pension or retirement benefits.
Familiarity with related accounting.
Data management, data collection, data entry, reporting, and auditing skills.
Ability to handle confidential information.
No licensure required.

Responsibilities

Ensure the accuracy of participant and employee data for all Covenant Retirement Plans.
Oversee and maintain accurate retirement plan deduction information in the HRIS system.
Oversee and coordinate retirement plan contribution data in the HRIS system and ensure transfer to Fidelity each payroll.
Ensure Benefits Associates are trained and up to date on retirement plan information so they can assist employees with general questions.
Lead Benefits Associates and provide guidance on daily tasks and special projects as directed by management.
Maintain familiarity with Covenant benefits to support and lead Benefits Associates in their daily tasks.
Work with the Benefits Administrator and UKG Pro Team to obtain reports for Human Resources leadership, Finance, and internal and external auditors.
Lead and coordinate the Deceased Affairs program, ensuring beneficiary claims are processed according to program guidelines and completed.
Process non-Fidelity retirement plan distributions and loans, and Qualified Domestic Relations Orders.
Work with the Benefit Analyst to provide information for annual Form 5500 tax filings for retirement and health and welfare plans, in coordination with tax accountants, third-party administrators, and Finance.
Assist with annual audits of the Covenant Health 401(k) Plan, Methodist Medical Center 403(b) Plan, Morristown Hamblen Hospital Association 401(k) Plan, and other benefit plans as needed.
Facilitate distribution of Summary Annual Reports for retirement and health and welfare plans.
Work with the Benefit Analyst to obtain data extracts for semi-annual retirement plan nondiscrimination testing with Fidelity Investments and the IT department.
Work with the Benefit Analyst to facilitate annual employer match calculations and deposits for the specified retirement plans, coordinating with the IT department, Fidelity Investments, and Finance.
Calculate and coordinate deposits for Executive Non-qualified Deferred Compensation Plans.
Lead the editing and approval process for employee communications created by Fidelity Investments.
Facilitate retirement plan asset transitions during company acquisitions and divestitures to or from Covenant Health.
Facilitate distribution of Participant Fee Disclosure Notices to qualified retirement plan participants.
Coordinate and take minutes at annual Finance Committee meetings.
Follow policies, procedures, and safety standards; complete required annual education; work toward goals and objectives; participate in quality improvement initiatives; and perform other duties as assigned.