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Benefits Analyst

University of Maryland Medical System

in Baltimore MD

WHAT YOU WILL DO:
The position will focus on providing analytical support to the retirement benefits administration team and working with plan participant data. Under general supervision of Manager / Director of Total Compensation or Director of Retirement Benefits, administers the employee health benefits and retirement programs.

Health and Welfare:

  1. Administers employee benefits such as life, health, dental and prescription insurance, flexible spending accounts, health care spending accounts, disability plans, Accommodations programs, retirement savings/pension plans, and COBRA in accordance with plan documents and UMMS benefit policies/procedures; serve as a contact between vendor and employee.
  2. Provides periodic recommendations to management for potential process and/or reporting improvements. Assists in the development and implementation of cost-effective and customer-responsive administration systems for employee benefit plans.
  3. Manage automated solutions. Coordinates the execution of benefit enrollment windows, including working with Lawson team on benefit change implementation. Liaises with internal staff (HR, HRIS, IT, Payroll, Finance) and with external vendors to find efficient methods for retrieving, testing, and validating participant data out of UMMS data systems as well as out of vendors’ data systems, including coordination/synchronization of data between the two.
  4. Prepares communication materials for benefits training including orientation and open enrollment; present information regarding the various benefit plans.
  5. Monitor vendor performance related to the administration of UMMS benefit plans
  6. Performs initial preparation and/or reconciliation of bi-weekly funding for benefit plans (retirement funding, voluntary benefits, outsourced benefits). Receives, validates, records, and processes for payment all vendors’ fees/invoices. Audits and monitors costs, claims, and participants in benefit plans; reconcile and review monthly premium statements.
  7. Assists with potential/proposed new/change initiatives relative to benefit plan design by running cost comparisons and performing related analyses. Assists in writing/updating corresponding UMMS benefit policies to comply with federal, state, and local laws and regulations and UMMS procedures.
  8. Supports the compliance needs of benefit plans to include retirement plan valuations, audits, 5500’s, IRS, and ACA reporting.

Retirement:

  1. Counsel and assist employees with questions, usually taking-on more moderately challenging / complex cases in the HR Connections case management system
  2. Administers day-to-day operation of retirement benefit plans in accordance with plan documents & established procedures. Applies benefits starts, stops, adjustments within Lawson. Researches plan provisions per plan documents, occasionally consulting legal counsel. Conducts Pension calculation data collection & processing. Responsible for processing death claims. Receives requests from participants, gathers pertinent data, assembles into prescribed format, coordinates benefit calculation via actuarial vendor, communicates back to participant, coordinates payments via Trust Bank.
  3. Provides support to projects, and/or leads projects, dependent upon size & complexity (plan start-ups / shut-downs / migrations, pension cashout projects
  4. Responsible for external audit preparations and support. Prepares employee/participant census data for auditors & actuaries. Prepares data / documentation requested by Auditors. Researches & Responds to Auditors inquiries. Otherwise provides general support to annual / ongoing benefit plan auditing processes.
  5. Responsible for self-audits. Develops new audits, on an as-needed basis, to improve overall administration of the retirement benefits programs. Analyzes audit results for causes and patterns. Liaises with Team, Manager, HRIS, IT as appropriate, working to resolve identified issues. Pulls, reconciles, validates fund transitions within plans, such as vendor's movement of money from 'old' investment fund option into 'new' investment fund option.
  6. Ensures bi-weekly contribution funding processes are completed. Retrieves necessary data, reconciles to Payroll Deduction Registers, reconciles with records forwarded to vendor, tally's-up total funding amounts, but also broken-down by type (Employee, Employer Match, Employer Fixed) as well as by Plan (401a, 401k, 403b, 457).
  7. Responsible for researching, retrieving, monitoring, and reconciliation & validation of pertinent data.

WHAT YOU NEED TO BE SUCCESSFUL:

  • B.S. or B.A. degree in Human Resources Management or related field.
  • Minimum of two years of professional Human Resources experience or equivalent is required.
  • Experience with benefits administration is preferred. CEBS certification preferred.

How to Apply

Apply online using this link: https://jobs.umms.org/ShowJob/JobId/2117318/Benefits-Analyst

EOE / AA


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