Overview
This role involves performing a variety of technical duties to support the day-to-day services of a Defined Benefit Retirement Department. The primary responsibility is to compute lifetime benefit payments for multiple public retirement plans, including those for public employees, teachers, firefighters, police officers, and government officials.
Responsibilities
- Review retirement paperwork and verify eligibility for retirement by comparing information from members and employers.
- Analyze and determine creditable service and salary from employment records, ensuring compliance with applicable retirement laws.
- Examine compensation details, identify discrepancies, and determine eligibility based on employer policies and retirement codes; request refunds when compensation is ineligible.
- Research individual records to verify eligible compensation, service eligibility, previous refunds, re-deposits, and related activities.
- Review and audit team members’ work for accuracy and recommend corrections as needed.
- Calculate and enter transactions to finalize salary and service calculations, including transferring contributions to the general ledger and combining service credit from multiple systems.
- Set up payment of benefits, verify input for benefit calculations, review payment setups, and release records for payments.
- Reconcile monthly retirement benefits.
- Analyze, determine eligibility, and compute costs for service purchases, re-deposits, and adjustments; provide explanations regarding installment payments and rollovers.
- Generate correspondence to request or provide information to members and employers to expedite account processing.
- Meet productivity and quality standards established by the department.
- Perform monthly audits on completed retirement payments to ensure accuracy and identify training needs.
- Maintain regular and reliable attendance.
- Maintain strict confidentiality.
- Perform other related duties as required.
Requirements
- High school diploma and two (2) years of progressively responsible experience in a related field or bookkeeping; or an equivalent combination of education and experience.
Knowledge, Skills, and Abilities
- Proficient in computer operations and technical software applications.
- Skilled in Microsoft Office Suite.
- Experience operating a 10-key calculator.
- Familiarity with imaging processes.
- Working knowledge of accounting, bookkeeping, and related statistical procedures.
- Ability to perform complex mathematical formulas and calculations related to benefit estimates.
- Understanding of the purposes, principles, and practices of public retirement systems.
- Knowledge of retirement laws, codes, policies, and guidelines.
- Excellent communication skills, including interpersonal conflict resolution, technical writing, editing, proofreading, and effective verbal and written communication.
- Ability to follow written and verbal instructions.
- Strong critical thinking and problem-solving skills.
- Ability to prioritize work and meet deadlines.
- Capacity to maintain focus despite interruptions.
- Ability to work both independently and as part of a team.
- Strong memory for details.
- Demonstrated judgment, integrity, and personal values consistent with the responsibilities of the role.
Work Environment
- Typical office setting with appropriate climate controls.
- Physical activities include walking, standing, stooping, sitting, reaching, talking, hearing, and seeing.
- Requires common eye, hand, and finger dexterity to perform essential functions.