Pension & Benefits Specialist (12-month Contract) - Toronto, Canada - Royal Ontario Museum

Royal Ontario Museum

Verified Company

Toronto, Canada

1 week ago

Posted by:

Sophia Lee

beBee Recruiter

Description

Are you passionate about culture, the arts, natural history, and science? Are you keen on how these elements aesthetically come together to tell the many stories of humanity? Join our team at ROM and consider a fulfilling career as a Pension & Benefits Specialist.

***: Reporting to the Assistant Vice President, Human Resources (AVP HR), with a dotted line to the Senior Manager, Talent Initiatives, the Pension & Benefits Specialist is a crucial role, providing day to day administration of the Museum's pension and benefits programs.

The Pension & Benefits Specialist exhibits a high degree of professionalism, composure, flexibility and confidentiality in all activities in support of the ROM's strategic direction and vision.

DUTIES & RESPONSIBILITIES

Commit to and demonstrate the ROM values in all actions and behaviours, setting a high example for others within the organization
Collaborate with other members of the HR team to achieve strategic priorities and provide integrated HR solutions

Pension Administration

Responsible for member enrollments, retirement, leave start and stop, change of employment status, termination of employment, purchase requests, pension estimate etc. and respond to CAAT questions related to these tasks
Track plan membership information, including new hires, terminations, transfers in/out, etc., and regularly updates pension plan custodian (CIBC Mellon) of changes in member status or benefits
Calculate annual Pension Adjustment (PA box 52) calculations for members by January 31 annually in order to enter into Data Collection Tool (DCT) for verification and payroll notification
Maintain personal data for each member in Dayforce as required for pension administration
Assist with compiling information required for the annual pension financial statement audit
Assemble information actuaries require to complete annual and triannual plan valuation and for yearend audit and assists with responding to their inquiries
Assist with assembling and distributing annual statements and other information to pension members (active) and retirees and deferred vested (inactive)
Provide support to the Finance with respect to pension administration
Prepares annual pension increase notification to retirees, in collaboration with the Payroll Manager and financial information provided by actuaries and financial staff and contributes to the maintenance of accurate list of retiree contact information
Maintains list of active, retired and deferred pension plan members including: tracking movement (date of hire, date of joining plan, date of termination, date of retirement etc.) maintain personal data for each member as required by for pension administration
Track active staff that will be reaching age 65 and 71 as well as those on LTD that will become eligible for pension as well as organize and advise Payroll as required
Upon death of a retiree, contact CAAT to stop payment, transfer to survivor and contact life insurance and benefits providers
Assist in the preparation of material for annual pension statements

Benefits Administration

Administer current Group Benefits (Health, Dental, Longterm Disability, Life Insurance, EFAP) enrollments, changes and terminations
Ensure benefit rates in HRIS are current and accurately calculate benefit deduction
Prepare monthly reconciliations and remittances and ensures payments are received by benefit providers on time
Utilize HRIS to monitor retirement dates, contract terms or rate change dates (to ensure accuracy of payments to benefit providers and communicate with staff regarding the change
Calculate benefits for new hires, salary changes, leave, etc. for review by AVP, HR/Sr. Manager, Talent Initiatives
Contact Benefit Providers regarding new hires, changes to employee coverage (change in salary, marital status, etc.), terminations and personal information (beneficiaries, address, etc.)
Field inquiries from staff regarding benefit plan costs; assists employees in making changes to their information and benefit coverage
Investigate issues and respond to inquiries from benefit providers, liaising with the Human Resource Manager and/or AVP, HR/Sr. Manager, Talent Initiatives on exceptional cases
Administer Post-Retirement Benefits
Assemble information actuaries require to complete triannual valuation
Process group benefits monthly billing
Report earning to insurance carrier for employees on LTD
Assist retirees with changes in plan coverage
Invoice retirees for Health & Dental benefits
Provide annual medical benefits information to retirees for their tax purposes to employees as necessary in various pension, benefits and HR related topics

Other

Act as project coordinator and/or provide administrative support for special projects as identified, track project schedules, task deadlines, and milestones, coordinate project meetings with project stakeholders, prepare reports, and liaise with