Job Information
Michigan Sugar Company Benefits and Retirement Plan Administrator in Bay City, Michigan
Excellence. Pride. Integrity. Compassion. Trust. Are you ready to plant your career in a place where words like these serve as the foundation for doing business every day? At Michigan Sugar, our purpose is Making Life Sweeter, and our mission is Creating Growth and Opportunity.
Michigan Sugar Company has an immediate full-time opportunity for a Benefits and Retirement Plan Administrator, located at the Corporate Office, Bay City, MI.
Job Summary
As a Benefits and Retirement Plan Administrator, you will play a pivotal role in managing employee benefits and retirement plans within the organization. You will be responsible for ensuring that employee benefit programs are administered efficiently and accurately, providing valuable support to both employees and management. Your role will involve handling various aspects of benefits administration, including enrollment, compliance, communication, and retirement plan management.
Primary Responsibilities
Benefits Administration:
- Coordinate and administer all aspects of employee benefits programs, including health insurance, dental insurance, vision insurance, life insurance, disability insurance, and other voluntary benefits.
- Process benefit enrollments, changes, and terminations accurately and in a timely manner.
- Respond to employee inquiries regarding benefits coverage, eligibility, and claim procedures.
- Collaborate with insurance providers, brokers, and vendors to resolve issues and ensure smooth administration of benefits programs.
- Maintain accurate records of employee benefits, participation, and transactions.
Retirement Plan Management:
- Oversee the administration of the organization's retirement plans, such as 401(k) plans, pension plans, or other retirement savings programs.
- Process retirement plan enrollments, contributions, distributions, loans, and other transactions accurately and efficiently.
- Monitor retirement plan compliance with federal and state regulations, including ERISA, IRS, and DOL requirements.
- Coordinate annual retirement plan audits and compliance testing.
- Educate employees about retirement plan options, investment choices, and retirement planning strategies.
Compliance and Reporting:
- Ensure compliance with all applicable laws, regulations, and policies governing employee benefits and retirement plans.
- Prepare and distribute required compliance notices, disclosures, and reports to employees and regulatory agencies.
- Assist in preparing documents and data for government filings, such as Form 5500 and Form 1095-C.
- Stay updated on changes in benefit and retirement plan regulations and communicate relevant updates to stakeholders.
Communication and Education:
- Develop and deliver employee communications related to benefits enrollment, changes, and updates.
- Conduct benefit orientations and educational sessions for new hires and existing employees.
- Provide personalized guidance to employees on benefit options, retirement planning, and financial wellness programs.
- Collaborate with HR and management to develop strategies for enhancing employee understanding and appreciation of benefits offerings.
Vendor Management and Cost Control:
- Evaluate and select benefit vendors, brokers, and service providers based on cost-effectiveness, quality, and service level agreements.
- Negotiate contracts and agreements with benefit vendors to optimize costs and services.
Monitor benefit plan expenses and participate in budget planning and forecasting processes.
Position Qualifications
Bachelor's