0
A benefits administrator can expect a variety of tasks on any given day and a fast-paced schedule. Benefits administrators are, primarily, in charge of overseeing a company’s health care and retirement plans. More specifically, a benefits administrator is part counselor, part statistician, part salesman, part business analyst, and part teacher. A strong background in statistics enables a benefits administrator to determine which benefits plans are most suited to the company’s needs. A strong business administration background enables him to design a plan that fits the company’s finances. He will be required to present his ideas to the company’s management team for their approval and to the employees and/or employee unions for their approval much like a salesman. He will conduct seminars for the employees regarding the benefits to which they are entitled, much like a teacher. He will be called upon to resolve any disputes or issues with the skills and diplomacy of a counselor, always balancing the desires of the employees against the regulations that govern his benefits.
Required EducationAt a minimum, a benefits administrator should possess a bachelor’s degree. Courses in English, public speaking, psychology, business administration, cost analysis, economics, and negotiation should be part of the core curriculum. While there is no certification to become a benefits administrator, continuing education in this field is vital as State and Federal regulations regarding employee benefits change, company requirements change, and employee needs change.
Salary and Projected Industry GrowthAccording to the US Department of Labor, Bureau of Labor Statistics, the median annual wage for a benefits administrator was $86,500 in May 2008, with the middle half of the administrators earning between $64,930 and $113,480. The lower ten percent of the administrators earned less than $49,350, and the higher ten percent earned more than $147,050. Payscale.com lists the average starting salary at $35,875. The Bureau of Labor Statistics anticipates a minimum growth of 22% in this field between 2008 and 2018 due to legislative changes, court rulings, and rising healthcare costs.
What else can I help you with?
How can you check your pension amount?
To check your pension amount, start by reviewing your pension plan documents, which often outline how benefits are calculated. You can also contact your pension plan administrator or HR department for specific details about your account. Additionally, many pension plans offer online portals where you can log in to view your balance and projected retirement benefits. Regularly checking these resources will help you stay informed about your retirement savings.
Whom do you contact at A.O. Smith now is called Towers I have to make changes to my pension since i still work another job but only part time and will quit so my deductions have to change?
To make changes to your pension at A.O. Smith (now Towers), you should contact the HR department or the benefits administrator directly. They can provide guidance on how to adjust your pension deductions given your part-time employment status. If you have a specific contact person or a dedicated benefits line, that would be the best route to get your questions answered.
What does PB1 on pay stub mean?
PB1 on a pay stub typically stands for "Pay Benefit 1," which refers to a specific type of benefit or deduction related to payroll. This could include contributions to retirement plans, health insurance premiums, or other employee benefits. The exact meaning can vary by employer, so it's best to consult your HR department or payroll administrator for clarification.
Benefits and cost of holding Inventories?
what is benefits of holding inventories
What is nys t f grn payroll deduction?
The NYS T F GRN payroll deduction refers to a specific payroll deduction for New York State employees, which is typically associated with the New York State Teachers' Retirement System or other state-funded programs. The "T F GRN" may indicate contributions toward a specific trust fund or green initiative. These deductions are used to fund retirement benefits or other state-sponsored programs, ensuring financial support for eligible employees upon retirement or during their employment. For precise details, employees should consult their payroll department or benefits administrator.
What are the main benefits of an administrator job?
One of the main benefits of obtaining a administrator job is the fact that you can choose the job with the salary that fits your needs. You will also have all the company benefits for you and your family.
Where is the plan administrator located for Rust International Inc?
The plan administrator for Rust International Inc. is typically located at the company's headquarters or main office. As the plan administrator is responsible for managing the company's employee benefits program, they are usually situated within the HR or benefits department. It is essential for employees to know the location of the plan administrator for inquiries regarding their benefits and retirement plans.
Is a human resources degree required to be a benefits administrator?
The benefits administrator is part of or should be part of the human resources department. So it is best to have a humn resourcs degree for this job. The degree is earned by taking classes and learning the humn resources jobs like benefits administration.
What do I need to know about being a healthcare administrator?
Being a healthcare administrator has many benefits and you can get your degree online at some colleges that provide online courses. Being a healthcare administrator means being able to handle tasks.
Where can one get a good and reliable benefits software?
One can get good and reliable benefits software through the internet, from websites and products offered by companies such as Virtual Benefits Administrator and Employee Benefits Administration System.
Division of 401k plan during divorce?
Requires a QDRO (Qualified Domestic Relations Order). Check with the employer's HR or benefits administrator to see if there is a preferred DRO template to use. An attorney would have to complete the order and then it needs to be sent back to the benefits administrator to be deemed qualified.
What are some popular US nursing home administrator jobs?
Some popular United States nursing home administrator jobs include general administrator, long-term care specialist, and short-term care specialist. Each position has its own unique benefits.
What benefits does of a network administrator configures the switch as an HTTP server in new switch?
This allows web-based configuration tools to be used with the switch.
How can I access my flexible spending account?
To access your flexible spending account, you can typically log in to your account online through your employer's benefits portal. You can also use a mobile app or contact your benefits administrator for assistance.
Who do you call for American cyanamid pension?
For inquiries regarding American Cyanamid pension benefits, you should contact the benefits administrator or the human resources department of the company that acquired American Cyanamid, which is now part of BASF. You can also reach out to the pension plan's administrator directly if you have their contact information. Additionally, check any documentation you have related to your pension for specific contact details.
How do you contact the plan administrator for Bank of America Corp Benefits Committee?
I wish to withdraw my balance and close my account. 56-0906609-001 Thank you. Wilda
What happens if there is no benificiary for a life insurance policy?
If there is no living beneficiary then the beneficiary becomes the estate of the insured. If there is a will the administrator of executor will have the benefits to pay for last expenses and then pay out as the State Law mandates. If there is no will the magistrate or probate court will assign an administrator or executor to handle these items.
