Benefits Specialist - MGT

at  BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM

MINIMUM EDUCATION

Bachelor’s degree or equivalent experience

SUMMARY

The Benefits Specialist performs the full range of activities using a thorough knowledge and understanding of Board, Federal Reserve System, and federal benefit programs to counsel employees and retirees on benefit issues. At this level, the Benefits Specialist handles the more complex issues that may occur. Works under the direction of the supervisor or more senior benefit staff to evaluate and improve benefits services to ensure high quality information and advice.

POSITION REQUIREMENTS

Requires a bachelor’s degree or equivalent work experience plus one year of responsible work experience in benefits and a broad understanding of the interrelationships between other human resources functions and public sector benefits. Continuous learning and knowledge of employee benefits programs including: medical, dental, vision, LTD and life insurance, and flexible benefit plans, etc., required. Additional knowledge gained through a World at Work or comparable certification or a Professional in Human Resources (PHR) and/or Certified Employee Benefits Specialist (CEBS) designation is preferable. Must have the ability to organize, coordinate, and analyze information from a variety of sources. Requires excellent oral and written communication skills, attention to detail, and excellent interpersonal skills.
This is a term position ending December 31, 2025.
This position is hybrid, requiring a combination of telework and an in-office presence in Washington, DC.
Benefits are included.

• Advises employees and retirees in a variety of matters pertaining to their benefits and finds solutions to their problems and concerns and handles the more complex issues that may occur. Benefits include multiple defined benefit and defined contribution plans, health and dental insurances, longterm disability, life insurances, flexible benefit plans, and other voluntary benefits. Counsels beneficiaries on options and payments in death cases.
• Uses software programs to prepare annuity estimates, retirement plan deposits, and re-deposits for employees.
• Advises applicants and new hires on benefits programs and coordinates the transfer of benefits from Federal Reserve Banks or other federal government agencies to the Board.
• Conducts the benefits portion of new employee orientation session and processes all related paperwork. Ensures that orientation materials are current and suggests improvements to the orientation process.
• Prepares the service history card for new employees with complex service histories. Determines from records of prior service and OPM guidelines whether previous employment is creditable for retirement and leave purposes. Work is verified by higher level staff.
• Counsels employees who are separating or retiring from Board service. Advises those transferring to other government agencies or Federal Reserve Banks of their options and prepares all the necessary paperwork. Responds to federal agency requests for benefits information related to service, retirement, insurance records, etc.
• Works with a more senior benefits staff member in developing and coordinating written communications material in connection with benefits programs such as open season materials, orientation materials, or other special communications for review.
• Coordinates with staff of the Office of Employee Benefits (OEB) and the Office of Personnel Management (OPM) to resolve employee or retiree questions or problems. Assists employees with accessing Benefits Express for Thrift and Retirement Plan transactions. Counselor may serve as the Board or section representative in meetings or work groups.
• Coordinates portions of the annual open enrollment activities for health, PCA, FSA, group legal, or other benefits programs.
• Assists with special benefits projects such as: completes benefits surveys, gathers and prepares benefits data, presents benefits information at employee sessions, etc. The Benefits Counselor works under close review from higher-level benefits staff.
• Advises employees on long-term disability and other disability related program plan rules and assists applicants with preparing required paperwork.
• Monitors federal or Federal Reserve System changes to benefit plans and integrates changes into Board benefit plans as necessary.