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Benefits Specialist

  • Job
    Full-time
    Mid Level
  • Consulting
    People, HR & Administration
  • South Beloit
  • Quick Apply

AI generated summary

  • You need a Bachelor's in HR, 3+ years in benefits admin, SHRM preferred, strong analytical skills, confidentiality, excellent communication, and Microsoft proficiency.
  • You will manage retirement plans, analyze data, support HR inquiries, ensure compliance, handle vendor payments, and assist with benefit program implementation and communication strategies.

Requirements

  • Bachelor’s degree in Human Resources or related field
  • 3+ years of experience in HR and/or benefits administration
  • SHRM certification credentials preferred
  • Knowledge of retirement/Health and Welfare plan benefits and applicable laws
  • 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 Rexnord’s 80/20 principles

Responsibilities

  • Provide support for retiree medical and life administration (including OPEB valuation), executive physicals and onsite clinic
  • Manage daily 401(k) and pension plan administration and recommend efficiency improvements
  • Analyze reports to ensure accurate retirement plan data transmission and updates between HR management systems, payroll, and recordkeeper platforms, and resolve data issues
  • Manage accurate and timely remittance of 401(k) contributions
  • Support with written communication to HR and associates regarding 401(k) plan updates
  • Assist with data collection to provide accurate and timely response to external requests from auditors and/or vendors for 401(k) and pension plans
  • Assist in transition of retirement plans for newly acquired businesses
  • Research, gather, and confirm data for pension plan calculations and administration
  • Respond to HR Managers, associates, and beneficiaries regarding retirement plan inquiries
  • Collaborate with recordkeeper to develop and deliver retirement plan communication and education strategy, and assist in developing or reviewing related materials
  • Manage administration of vendor invoices, ensure accuracy and coordinate payments
  • Review and respond to regulatory agency notices regarding deferred benefits
  • Provide benefits customer service and educational support to internal customers
  • Assist with the implementation of new health and welfare benefit programs and vendors
  • Ensure compliance with government regulations including reviewing and updating required health and welfare required documentation

FAQs

What is the role of a Benefits Specialist at Regal Rexnord?

The Benefits Specialist at Regal Rexnord is responsible for supporting the administration of domestic 401(k) and pension retirement plans, overseeing U.S. health and welfare benefits, ensuring accurate remittance of contributions, and acting as a primary contact for HR business partners.

What are the minimum requirements for the Benefits Specialist position?

The minimum requirements include a Bachelor’s degree in Human Resources or a related field, 3+ years of experience in HR and/or benefits administration, preferable SHRM certification credentials, knowledge of retirement and health/welfare benefits laws, strong analytical skills, and proficiency in Microsoft applications.

What types of benefits does Regal Rexnord offer to employees?

Regal Rexnord offers a comprehensive benefits package that includes medical, dental, vision and prescription drug coverage, spending accounts, paid time off and holidays, a 401k retirement plan with matching contributions, life and accident insurance, paid leaves, and tuition assistance.

Is a certification necessary for this position?

While a SHRM certification is preferred, it is not mandatory; relevant experience in HR or benefits administration is the primary requirement.

Will the Benefits Specialist be involved with vendor management?

Yes, the Benefits Specialist will manage the administration of vendor invoices, ensuring accuracy and coordinating payments.

How does Regal Rexnord support the professional growth of its Benefits Specialists?

Regal Rexnord supports professional growth through initiatives like tuition assistance and continuous improvement opportunities, allowing employees to enhance their skills and knowledge.

What kind of organizations might the Benefits Specialist collaborate with?

The Benefits Specialist will collaborate with HR business partners, external auditors, vendors, and recordkeepers in the administration of retirement plans and benefits.

Are there opportunities for remote work in this position?

The job description does not specify remote work; however, it is advisable to inquire during the application process regarding possible remote or hybrid work arrangements.

What does the company prioritize in its hiring practices?

Regal Rexnord is committed to being an Equal Opportunity and Affirmative Action Employer, ensuring a diverse and inclusive workforce, with equal consideration for all qualified applicants.

How can someone with a disability request reasonable accommodation during the application process?

Individuals with a disability who require reasonable accommodation for job searches or applications can email Recruiting@RegalRexnord.com for assistance.

Energy
Industry
10,001+
Employees

Mission & Purpose

Regal Rexnord Corporation is a global leader in industrial technology, offering a comprehensive range of high-quality products and solutions including bearings, motors, and power transmission components. The company serves various industries such as manufacturing, automotive, and aerospace, focusing on enhancing the efficiency, performance, and reliability of industrial processes. Regal Rexnord’s ultimate mission is to provide innovative and sustainable solutions that drive operational excellence and add value to their customers' businesses. Their purpose is to deliver exceptional engineering and technological advancements that support the growth and success of their clients while maintaining a commitment to sustainability and industry leadership.