What are the responsibilities and job description for the Benefits Manager position at Madison-Davis, LLC?
Act as Benefit Plan Administrator, responsible for the oversight and operations of all benefit programs and plans including health, retirement, and leave programs; ensure compliance and effective operation of benefit vendors; reviews and authorizes monthly benefit expenses.
Manage relationships with insurance carriers, benefits brokers, outside consultants, and auditors.
Manage all leave programs (DBL, FML, NYPFL, Salary Continuation, Workers Comp) and draft policy revisions as needed.
Participate on Retirement, Investment, and Administration Governance Committees, prepare presentations, and organize meetings.
Work with Investment Advisor on execution of strategies approved by Retirement Committee.
Manage projects relating to changes or modifications to existing benefits programs with a heavy emphasis on Retirement Benefits.
Prepare 5500 forms and monitor plans for compliance; assist with Plan Document preparation, SPD preparation and amendments to plans.
Prepare annual Benefits Budget, while making recommendations for better cost controls, monitoring, and processes; work toward out-sourcing of appropriate tasks and transactions. Perform data analysis and data audits; write and generate advanced reports.
Process monthly/biweekly/weekly/daily reports from the Human Resources system to ensure that enrollments/terminations/billing occur on-time and accurately, and that data is audited for compliance, completeness, and validity.
Monitor regulatory trends in benefits and evaluates costs and alternatives.
Participate in contract renewals and benefit surveys.
Plan and implement open enrollment; is responsible for all system configuration changes due to plan changes.
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