Benefit Analyst

Job Description
Performs complex duties in the following areas: administration of Health and Welfare Plans, Defined Benefit, and Defined Contribution Plans for both salaried and hourly employees. Maintain databases of eligibility, enrollments, plan costs that are used in calculating and projecting financial models used to develop employee contributions and health plan budgets. Provides assistance in administration of compensation program. Maintains summary plan documents, plan amendments and employee materials for new hires, orientation, and open enrollment.
Essential Functions
Assists with administration of various employee benefit programs, such as health benefit programs, life, accident and disability insurance, and DB and 401(k) retirement plans;
Coordinates human resources procedures to initiate and terminate eligibility under above-mentioned programs, initiating enrollment and completing of forms and or affidavits; updates HRIS (HCM) with changes (deferrals or enrollments) and set up loan payments for 401(k) Plan, arranges for completion and submission of enrollments within time limits to appropriate vendors.
Implements new benefit programs; assists Human Resources staff at TIMET operations in employee benefit presentations and open enrollment.
Maintains statistical database of benefit plan costs used to track and project company costs as well as projecting future employee contributions; and analyze data to identify any trends or unusual events.
Assists in calculation of the monthly premiums statements for all group insurance policies and reviews monthly invoices from vendors before recommending for payment.
Maintains database consisting of current and former benefit plan participants to determine eligibility for future benefits.
Working with benefits consultant to edit and write summary plan descriptions, plan amendments, and plan documents.
Additional Responsibilities
Prepares related reports using information systems and other means.
Corporate FMLA contact.
Prepare EEO/Vets-100 statistical information.
Coordination with TIMET HR for participation in annual compensation surveys; accesses survey database as required to benchmark existing and new positions throughout organization.
Conducts and participates in audits, pension plan valuation, regulatory testing, etc. of benefits plans as required.
Resolves administrative problems with the carrier representatives.
Prepares and distributes SARs and assists with completion Form 5500.
Research compliance with government regulations.
Performs other related duties as assigned.
Education and Experience
Bachelor's degree plus additional courses or seminars related to benefits administration and/or processing.
Two (2) to four (4) years in benefits or related benefits administration.
Strong Excel skills required.
Special Skills
ERISA, DOL, Plan Administration, FMLA, PPACA.
Ability to research plan regulations; ability to interpret plan documents & language.
Ability to maintain confidentiality with sensitive information.
Ability to communicate effectively with employees, management, pensioners relative to benefits.
Knowledge of benefits practices and procedures.
Knowledge of MS Office and HRIS systems.
Additional Notes
Proof of US citizenship, nationality, and/or permanent resident status in order to comply with all applicable export and import laws and regulations.
Precision Castparts Corp. is an equal opportunity employer committed to recruit, hire, train, and promote in all job categories without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, veteran status or other status protected by applicable law.

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