BENEFITS SPECIALIST

Covenant Health•Knoxville, TN

10d

About The Position

The Benefits Specialist, Corporate Benefit Services, 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 legislative requirements are met, and consult outside counsel as needed to support compliance with federal and state legal requirements. The position manages participant and employee data, retirement plan deductions and contributions, plan distributions and loans, beneficiary claims, reporting, audits, and compliance-related processes. It also provides day-to-day guidance to less senior Benefits Associates, supports special projects, and coordinates with internal teams, Fidelity Investments, auditors, tax accountants, third-party administrators, and Finance.

Requirements

Bachelor of Science degree in Management, Business, or a related field.
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.

Responsibilities

Ensure the accuracy of participant and employee data for all Covenant Retirement Plans.
Oversee and maintain accurate 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 retirement plan questions.
Act as a lead to Benefits Associates, providing guidance on day-to-day tasks and special projects as directed by management.
Maintain familiarity with all Covenant Benefits to support and guide Benefits Associates in their daily tasks.
Work with the Benefits Administrator and UKG Pro Team to obtain reports for Human Resource 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 needed for annual Form 5500 tax filings for retirement and health and welfare plans, in coordination with tax accountants, TPAs, and Finance.
Assist auditors annually with audits of the Covenant Health 401-k Plan, Methodist Medical Center 403b Plan, Morristown Hamblen Hospital Association 401k 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 Covenant Health 401-k Plan, Methodist Medical Center 403b Plan, and Morristown Hamblen Hospital Association 401k Plan, 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 the transition of retirement plan assets during company acquisitions and divestitures involving Covenant Health.
Facilitate distribution of Participant Fee Disclosure Notices to participants in Qualified Retirement Plans.
Coordinate annual Finance Committee meetings and take minutes.
Follow policies, procedures, and safety standards; complete required annual education assignments; work toward goals and objectives; and participate in quality improvement initiatives as requested.
Perform other duties as assigned.