What are the responsibilities and job description for the Retirement Benefits Specialist position at CT TRANSIT?
This position performs a variety of tasks related to the administration of the following retirement plans:
- Pension Plan for Employees of the H.N.S. Management Company, Inc., Represented by the A.T.U.
- H.N.S. Management Company, Inc., Retirement Plan
- H.N.S. Management Company, Inc., 401(k) Savings Plan
- Respond to employee questions and inquiries regarding retirement plans in a timely manner with a focus on customer service.
- Process and verify 401(k) transactions including submitting and verifying participant contribution changes and preparing and transmitting weekly employee contribution files to outside contractor.
- Track 401(k) auto-enrollment and auto-increase notifications and eligibility, and monitor the 401K loan activity.
- Assist the Pension Administrator with:
- Preparing annual federal tax returns (Form 5500) for retirement plans;
- Maintaining the databases needed to track participants’ pension and 401(k) benefits;
- Preparing annual pension benefit summaries and calculating pension benefits for participants;
- Preparing monthly pension plan payrolls for submission to outside vendor for processing as required, and process any additions and changes to benefits, tax withholdings, and any related insurance deductions;
- Reviewing the monthly financial statements provided by the Custodian. Assists in the preparation of related monthly activity reports; and
- Recording the minutes associated with applicable Trustee and Administrative Committee meetings
- Assists in departmental programs/projects as necessary, including attending new hire orientation and presenting an overview of retirement benefits to new employees.
- Work cooperatively with all levels of personnel.
- Responds to inquiries for information from employees, senior leadership, and/or external partners as needed.
- Attend in-service training, seminars or other opportunities for professional development as made available by the Company.
- Provides training for Company personnel in the retirement benefits functions as required. Actively participates in staff meetings, trainings, etc.
- Has thorough working knowledge of Agency policies and procedures, and collective bargaining agreements.
- Travels and provides support to other departments and divisions with benefits and administrative related functions as needed.
- Other duties and responsibilities as assigned.
- A bachelor’s degree with major course work in Administration, Human Resources, Retirement Benefits, Accounting, Mathematics, Finance, or a related field required.
- An equivalent combination of education and work experience on a year-for-year basis can be substituted for the 4-year degree requirement.
- Specific work experience in 401(k) administration, pension administration, or other employee benefit administration is required.
- Understanding of state and federal rules and regulations related to pension and/or 401(k) administration preferred.
- Demonstrated customer service skills with excellent oral and written communication skills.
- Demonstrated ability to maintain confidentiality of employee information.
- Proficient in software programs (Microsoft office & access database), internet applications and HRIS programs, and utilization of all relevant office equipment.
- The ability to quickly learn internal software programs.
- Strong organizational skills with ability to prioritize and process work with a high level of accuracy, and to work independently as well as in a team environment.
- Customer-focused and capable of relating well at all levels of the organization.
- Impeccable judgment and high personal/professional integrity.
- Ability to handle sensitive and confidential information with discretion.
- A valid drivers’ license is required. Individual may be required to travel in the course of their daily work.
Visit our website at and complete the on-line application and attach the following:
All applicants must provide:
- Resume
- Cover letter
Salary : $70,000 - $75,000