Benefits Specialist I - Payroll

A key influencer of Regal’s short and long-term business success depends on the ability to have the right talent, in the right roles at the right time to drive the enterprise strategy.

We are seeking a detail-oriented, adaptable, and highly organized Benefits Specialist to join our team. The Benefits Specialist will serve as a key partner and support to the Total Rewards team. This position is responsible for benefits payroll administration ensuring accuracy of benefit deductions, timely and accurate remittance of 401(k) contributions, and performing ongoing audits of benefit and retirement plan deductions and contributions.

This is a hybrid role with a minimum of 3 days per week working in the South Beloit IL office.

Specific Responsibilities

• Ensure accurate retirement plan data transmission and updates between HR management systems, payroll, and recordkeeper platforms, and resolve data issues that arise
• Reconcile 401(k) contributions and ensure timely funding per DOL requirements
• Investigate, resolve, and communicate payroll deduction discrepancies with appropriate business partners including corporate payroll, HR, and vendors, as applicable
• Research, gather, and confirm data for pension plan calculations and administration
• Prepare 945 reconciliation with annual 401(k) census data
• Assist in gathering and auditing annual data for 401(k) non-discrimination testing and retirement plan audits
• Ensure associate benefit deductions and 401(k) limits are set up accurately in the payroll system for the first payroll of the year
• Conduct weekly audits of retirement plan contributions and loan payments to ensure accuracy with record keeper and payroll systems
• Conduct monthly audits of FSA and HSA benefit deductions to ensure accuracy with the benefits system
• Identify and recommend process improvements for better efficiency, accuracy, and compliance of benefit deductions
• Respond to benefit deduction inquiries with timely and accurate responses to HR business partners
• Respond timely to medical child support inquiries from governmental agencies
• Research Social Security Administration notices regarding potential retirement plan benefits
• Manage administration of vendor invoices, ensure accuracy and coordinate payments
• Coordinate associate tuition reimbursements
  
  

Minimum Requirements

• Associate degree or equivalent in accounting, finance, business administration, human resources or a related field
• 0-2 years of relevant experience
• Prior experience with UltiPro (UKG) or Dayforce (Ceridian) payroll systems a plus
• Personal initiative to work independently with flexibility to adapt to a changing environment
• Strong analytical and problem-solving abilities
• Ability to develop strong partnerships
• Ability to manage confidential issues and information
• Excellent communication skills with focused attention to detail and the ability to analyze, organize, and effectively communicate both in writing and verbally
• Proficiency with Microsoft applications including Word and Excel
• Proven ability to be hands on, roll up sleeves and demonstrate resourcefulness, initiative, results-orientation.
• Has a mindset of continuous improvement and can embrace Regal’s 80/20 principles
  
  

Expected Salary Range: $40,000-55,000K/year

• The salary range provided is intended to display the value of the company's base pay compensation for all statewide locations across the United States. Salary is dependent on a multitude of factors, including but not limited to the physical worksite location, candidate's skill set, level of experience, education and internal peer compensation comparisons.
  
  

Candidates must be eligible to work in the United States without requiring company sponsorship to obtain or keep U.S. work authorization.

Benefits

• Medical, Dental, Vision and Prescription Drug Coverage
• Spending accounts (HSA, Health Care FSA and Dependent Care FSA)
• Paid Time Off and Holidays
• 401k Retirement Plan with Matching Employer Contributions
• Life and Accidental Death & Dismemberment (AD&D) Insurance
• Paid Leaves
• Tuition Assistance
  
  

About Regal Rexnord

Regal Rexnord is a $6.5B publicly held global industrial manufacturer with 30,000 associates around the world who help create a better tomorrow by providing sustainable solutions that power, transmit and control motion. The Company’s electric motors and air moving subsystems provide the power to create motion. A portfolio of highly engineered power transmission components and subsystems efficiently transmits motion to power industrial applications. The Company’s automation offering, comprised of controls, actuators, drives, and precision motors, controls motion in applications ranging from factory automation to precision control in surgical tools.

The Company’s end markets benefit from meaningful secular demand tailwinds, and include factory automation, food & beverage, aerospace, medical, data center, warehouse, alternative energy, residential and commercial buildings, general industrial, construction, metals and mining, and agriculture.

Regal Rexnord is comprised of three operating segments: Industrial Powertrain Solutions, Power Efficiency Solutions, and Automation & Motion Control. Regal Rexnord has offices and manufacturing, sales and service facilities worldwide. For more information, including a copy of our Sustainability Report, visit RegalRexnord.com.

Equal Employment Opportunity Statement

Regal Rexnord is an Equal Opportunity and Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex/gender, sexual orientation, gender identity, age, ancestry, national origin, marital status, citizenship status (unless required by the applicable law or government contract), disability or protected veteran status or any other status or characteristic protected by law. Regal Rexnord is committed to a diverse and inclusive workforce. We are committed to building a team that represents diverse and inclusive backgrounds, perspectives, and skills. If you’d like to view a copy of the company’s affirmative action plan or policy statement, please email Recruiting@RegalRexnord.com. If you have a disability and you believe you need a reasonable accommodation in order to search for a job opening or to submit an online application, please e-mail Recruiting@RegalRexnord.com.

Equal Employment Opportunity Posters

Notification to Agencies: Please note that Regal Rexnord Corporation and its affiliates and subsidiaries ("Regal Rexnord") do not accept unsolicited resumes or calls from third-party recruiters or employment agencies. In the absence of a signed Master Service Agreement or similar contract and approval from HR to submit resumes for a specific requisition, Regal Rexnord will not consider or approve payment to any third-parties for hires made.