Benefits & 401K Specialist in Edina, Minnesota at Element Electronics

Established in 2007, Element Electronics began with a simple belief - every household should have access to TVs featuring cutting-edge technology. In 2014, we took our commitment further by opening a factory in Winnsboro, SC, making Element the sole major television company assembling TVs in the United States. Presently, we continue to challenge ourselves, expanding our product range to include electronics and home appliances, while consistently providing customers with products showcasing the latest technology, all at affordable prices.

The Benefits & 401K Specialist is responsible for managing and administering employee benefit programs across multiple locations and companies covering health, wellness, and retirement benefits. This role requires expertise in 401(k) plan administration and communication and compliance with relevant laws and regulations. Additionally, this position will contribute to the organization’s benefits Plan design, serving as a subject matter expert and driving best practices, innovation, and continuous improvement in benefits offerings across the company.

Benefits Administration:

• Administer health, dental, vision, life insurance, disability, and other employee benefits programs across multiple companies
• Assist employees with benefits inquiries, enrollments, claims, and resolve any related issues.
• Maintain accurate records of employee benefits, including processing new hires, qualifying life events, open enrollments, and benefit terminations.
• Ensure all benefits data is accurately entered into HRIS and updated as necessary.
• Oversee the day-to-day administration of the 401(k)-retirement plan, including employee enrollments, contributions, distributions
• Ensure compliance with ERISA, IRS, and other regulations regarding 401(k) plans.
• Administer automatic enrollment, employee eligibility, and annual notices (e.g., Summary Annual Report).
• Oversee benefits billing

Compliance & Reporting:

• Ensure compliance with all benefits-related regulations, including ACA, COBRA, HIPAA, ERISA, and 401(k) regulations.
• Ensure required filings are completed, such as 5500 forms and annual compliance testing for benefits and 401(k) plans.
• Work with external vendors to ensure timely, accurate, and compliant reporting.
• Maintain the confidentiality of employee benefits information in accordance with company policies and legal requirements.
• Conduct regular audits of employee benefits data to ensure compliance and accuracy.

Open Enrollment & Benefits Education:

• Coordinate and facilitate open enrollment periods for employees across multiple companies, including preparing communication materials and providing employee support for elections.
• Conduct benefits orientation for new hires and ongoing education regarding benefits programs, including 401(k) features and investment options.
• Create and maintain benefits materials, FAQs, and presentations for employee reference.

Vendor Management:

• Manage relationships with benefits vendors, including insurance carriers and 401(k) plan administrators.
• Ensure vendor performance meets expectations and resolve issues promptly.
• Collaborate with external consultants on benefits plan audits and 401(k) reviews.
• Act as a liaison between employees and insurance providers to resolve claims issues and ensure timely responses to inquiries.
• Assist with resolving any discrepancies with providers and manage benefits claims efficiently.

Collaboration with HRBPs and HR Leadership:

• Work closely with HR Leadership to ensure benefits offerings align with organizational needs and employee preferences.
• Collaborate with HRBPs to provide guidance to managers and employees on benefits policies, procedures, and best practices.
• Partner with HRBPs to address employee concerns, conduct benefits education sessions, and implement new initiatives or changes to benefits offerings.
• Serve as a Center of Excellence for benefits administration, driving best practices, continuous improvement, and innovation in the benefits process.
• Provide HRBPs with regular updates on benefits enrollment, changes, and compliance status, ensuring alignment across the company.
• Ensure successful rollout of open enrollment and other benefits-related programs in collaboration with HRBPs.

• Bachelor’s degree in Human Resources, Business Administration, Finance, or a related field preferred.
• 5+ years of experience in benefits administration, 401(k) plan administration, or a similar role
• 3+ years experience with 401(k) plan administration, compliance, testing and reporting
• Knowledge of federal and state regulations related to employee benefits, including ACA, ERISA, COBRA, and HIPAA
• Experience in creating and implementing benefits training programs
• Excellent communication skills, both written and verbal
• Highly organized with strong attention to detail and the ability to manage multiple tasks simultaneously
• Strong analytical and problem-solving abilities
• Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint) and HRIS/Benefits management systems
• Ability to work independently and as part of a team in a fast-paced environment

Additional Information:

This job description in no way states or implies that these are the only duties to be performed by the incumbent in this position. Employee(s) will be required to follow any other job-related instructions and to perform any other job-related duties requested by any person authorized to give instructions or assignments with or without notice.

• All duties and responsibilities are essential job functions and requirements are subject to possible modification to reasonably accommodate individuals with disabilities. To perform this job successfully, the incumbent will possess the skills, aptitudes, and abilities to perform each duty proficiently. The requirements listed in this document are the minimum levels of knowledge, skills, or experience.
• This is a full-time position. Days of work are Monday through Friday. Evening and weekend work may be required as job duties demand.
• This position requires travel as needed throughout the United States and abroad.

Equal Employment Opportunity Statement

Element TV Company, LP provides equal employment opportunities (EEO) to all employee and applicants for employment without regard to race, color, religion, sex, national original, age disability or genetics. In addition to federal law requirements, Element TV Company, LP complies with applicable state and local laws governing nondiscrimination in employment in every location in which the Company has facilities. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training. Element TV Company, LP expressly prohibits any form of workplace harassment based on race, color, religion, gender, sexual orientation, gender identity or expression, national origin, age, genetic information, disability, or veteran status. Improper interference with the ability of Element TV Company, LP’s employees to perform their job duties may result in discipline up to and including discharge.