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Benefits Plans Specialist - Florham Park, NJ, (Hybrid)

Company: BASF Corporation
Location: Florham Park
Posted on: January 16, 2022

Job Description:

We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, age, citizenship, color, religion, sex, marital status, national origin, disability status, gender identity or expression, protected veteran status, or any other characteristic protected by law.DescriptionAt BASF, we create chemistry through the power of connected minds. By balancing economic success with environmental protection and social responsibility, we are building a more sustainable future through chemistry. As the world's leading chemical company, we help our customers in nearly every industry meet the current and future needs of society through science and innovation. We provide a challenging and rewarding work environment and are always working to form the best team-especially from within, through an emphasis on lifelong learning and development. We are constantly striving to become an even better place to work. BASF has been recognized by Forbes Magazine as one of America's Best Large Employers in 2021. Come join us on our journey to create solutions for a sustainable future! Benefits Plans Specialist - (2103642) - Florham Park, NJWhere the Chemistry HappensWe are seeking a professional like you to support the administration of U.S. health and welfare plans, wellness programs and retirement benefit plans and associated data, systems, controls, and vendor processes. In this role, you will also support acquisitions and divestitures due diligence and reporting, employee integration arrangements, development of carve-out retirement plans and systems, employee enrollments and communications and vesting arrangements.U.S. retirement plans include 25 qualified and nonqualified defined benefit and defined contribution plans for 17,000 active employees and 26,000 retirees, with related trust assets of $9 Billion and annual benefit payments of $800 Million. Health and Welfare plans annual spend totals $385 Million.U.S. benefit plans have varied and complex formulas, servicing management represented and union employees and retirees. You will also be responsible for ensuring regulatory compliance of U.S. health and welfare plans and retirement plans, including government filings, bonding, nondiscrimination testing, external audit support, employee and participant communications, and review of benefit plan documents, amendments, and annual financial valuation of defined benefit pension plan obligations.Given the fact that BASF is moving to a hybrid work model this individual will split their time between our Florham Park, NJ office and working virtually. The expectation will be that this individual be in the office 2-3 days per week.
Qualifications - BASF recognizes institutions of Higher Education which are accredited by the Council for Higher Education Accreditation or equivalentFormula for Success

Leveraging your education and experience in administration of health and welfare, qualified and nonqualified retirement benefit plans, you will assure appropriate administration of employee benefit programs through coordination with vendors, outside recordkeepers, consultants, attorneys, trustees, investment managers, auditors, and actuaries, and in-house Legal, Treasury, Tax and HR Services. Relying upon your robust knowledge of benefit plan rules and legal requirements, and your CEBS Certification (preferred), you will understand US benefit plans and programs and the variations that exist for different populations, including active employees, retirees, and management and union represented. Combining your ability to use systems and applications to extract and manipulate data and knowledge of HCM's and your solid understanding of Microsoft Office applications, you will be on-call to manage and support special projects relative to employee benefit plans, as needed. Demonstrating your excellent financial aptitude and advanced analytical skills, you will focus on improvement and identify HRIS/Payroll system improvement and change needs and arrange systems changes by Payroll IT and communications to plan participants. Your entrepreneurial approach to cost and vendor management will be essential, as you proactively analyze data and identify financial and vendor performance issues and opportunities. Your unwavering commitment to compliance will be evident, as you remain current with all applicable changes in ERISA and IRS regulations, through affiliations and research, and identify where plan changes are required as a result of changes in legislation and regulations. Utilizing your effective problem-solving skills, you will respond to and arrange resolution of employee and retiree claims relating to defined benefit plans, including handling of all recordkeeper escalations and DOL and participant inquiries, and research of prior recordkeeping data bases and plan related documentation. Utilizing your exceptional customer service orientation, including collaborative, consultative and communications skills, you will work with highly confidential information and handle multiple priorities in a fast-paced environment, with a sense of urgency and sensitivity to deadlines.
Create Your Own Chemistry: What We Offer You--- Adding value to our customers begins with adding value to you. You@BASF is the suite of benefits, perks, programs, and unique opportunities we offer to support you-the whole you-in all stages of your life and career. With you@BASF, you create your own chemistry. The total rewards that you receive as a BASF employee go way beyond a paycheck. From competitive health and insurance plans, to robust retirement benefits that include company-matching contributions, to making sure you never stop learning, we believe investing in you is investing in our success. Working for a large, global organization, you'll have a chance to grow professionally and personally, expand your network and build a rewarding and dynamic career.BASF provides interesting and challenging learning and development opportunities to help you make the most of your talents and your job.

Keywords: BASF Corporation, New York , Benefits Plans Specialist - Florham Park, NJ, (Hybrid), Accounting, Auditing , Florham Park, New York

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