Retirement Benefits Specialist
Adams County Government, Brighton, Colorado, United States, 80601
Overview
Executes complex professional, administrative, and technical duties when analyzing and administering essential components of the Adams County Retirement Plan (“Retirement Plan”), while maintaining a very high level of integrity and confidentiality.
This position is part of a dedicated Retirement Benefits team and operates independently from the traditional Human Resources department. It does not report to or fall under the HR organizational structure. Additionally to maintain impartiality and avoid conflicts of interest, individuals applying for this position must not have any relatives (including but not limited to parents, siblings, children, cousins, or in-laws) currently employed by the organization or previously retired from the organization.
Responsibilities
Possesses a thorough and accurate understanding of the benefits offered under the Retirement Plan.
Performs accounting functions including reconciliation of accounts, preparing and posting general ledger entries, and data entry.
Compile data for actuarial valuation, annual audit and monthly trustee reconciliations.
Serves as a liaison with the Board of Retirement (“Retirement Board”), employers, attorney, actuary, investment consultant and other vendors.
Coordinates materials for monthly Retirement Board meetings; prepares and disseminates the Board packets; prepares summaries of investment performance and Retirement Plan expenditures; and posts agenda at appropriate sites in accordance with the Colorado Open Records Act.
Serves as Corresponding Secretary for Retirement Board.
Attends All Board Meetings.
Counsels active, deferred vested and disabled members to explain various types of benefits offered by the Retirement Plan; meets with surviving beneficiaries to obtain necessary information and explain available benefits and options.
Calculates pension benefits, analyzes and responds to inquiries from active, deferred vested, disabled, retired members and beneficiaries relating to eligibility, benefit amounts and benefit options.
Provides exceptional customer service to the employees and retirees answering their benefit questions in a timely manner and resolving problems related to payment of benefits.
Ensures compliance with state and federal policies, procedures and laws including preparation of reports and tax filings and timely remittance of same to federal and state agencies.
Reads, reviews, interprets and implements legislative changes affecting the Retirement Plan.
Maintains knowledge of government regulations.
Assists with maintenance of Retirement website.
Assists, initiates, documents and tests applications regarding operating system software changes.
Qualifications To be successful, our ideal candidate should have the following ability to:
Plan, assign, coordinate, organize and prioritize work
Work independently
Maintain accurate, neat and complete financial and retirement records
Perform arithmetic calculations including fractions and percentages
Research, compile and present financial data
Identify and resolve discrepancies in financial and accounting records
Read, learn and apply complex policies, procedures and laws
Learn and apply state and county retirement codes, regulations and laws related to death benefits and divorce settlements
Learn and apply actuarial principles pertaining to retirement system funding
Clearly explain irrevocable retirement options to retirees
Interact effectively with participants in sensitive and stressful situations
Use personal computers and word-processing, database management and spreadsheet applications
Maintain confidentiality of member data
Write clear and concise letters and reports using proper English, punctuation, spelling and grammar
Communicate effectively, clearly and concisely.
More Qualifications for Success Experience:
Two years of professional experience in retirement administration or a closely related field; experience with defined benefit plans is preferred.
Education & Training:
High school diploma or GED equivalent required.
Associate’s degree in business administration, public administration, benefits administration, finance, economics, or accounting is preferred.
License or Certificate:
Certified Employee Benefit Specialist (CEBS), Retirement Plans Associate (RPA), Certificate of Achievement in Public Plan Policy (CAPPP), or other comparable professional credentials are preferred.
Experience providing retirement benefits administration for a public employer’s defined benefit retirement system or comparable retirement system, including experience with operating system software (PensionGold, Quikbooks) is highly desirable.
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This position is part of a dedicated Retirement Benefits team and operates independently from the traditional Human Resources department. It does not report to or fall under the HR organizational structure. Additionally to maintain impartiality and avoid conflicts of interest, individuals applying for this position must not have any relatives (including but not limited to parents, siblings, children, cousins, or in-laws) currently employed by the organization or previously retired from the organization.
Responsibilities
Possesses a thorough and accurate understanding of the benefits offered under the Retirement Plan.
Performs accounting functions including reconciliation of accounts, preparing and posting general ledger entries, and data entry.
Compile data for actuarial valuation, annual audit and monthly trustee reconciliations.
Serves as a liaison with the Board of Retirement (“Retirement Board”), employers, attorney, actuary, investment consultant and other vendors.
Coordinates materials for monthly Retirement Board meetings; prepares and disseminates the Board packets; prepares summaries of investment performance and Retirement Plan expenditures; and posts agenda at appropriate sites in accordance with the Colorado Open Records Act.
Serves as Corresponding Secretary for Retirement Board.
Attends All Board Meetings.
Counsels active, deferred vested and disabled members to explain various types of benefits offered by the Retirement Plan; meets with surviving beneficiaries to obtain necessary information and explain available benefits and options.
Calculates pension benefits, analyzes and responds to inquiries from active, deferred vested, disabled, retired members and beneficiaries relating to eligibility, benefit amounts and benefit options.
Provides exceptional customer service to the employees and retirees answering their benefit questions in a timely manner and resolving problems related to payment of benefits.
Ensures compliance with state and federal policies, procedures and laws including preparation of reports and tax filings and timely remittance of same to federal and state agencies.
Reads, reviews, interprets and implements legislative changes affecting the Retirement Plan.
Maintains knowledge of government regulations.
Assists with maintenance of Retirement website.
Assists, initiates, documents and tests applications regarding operating system software changes.
Qualifications To be successful, our ideal candidate should have the following ability to:
Plan, assign, coordinate, organize and prioritize work
Work independently
Maintain accurate, neat and complete financial and retirement records
Perform arithmetic calculations including fractions and percentages
Research, compile and present financial data
Identify and resolve discrepancies in financial and accounting records
Read, learn and apply complex policies, procedures and laws
Learn and apply state and county retirement codes, regulations and laws related to death benefits and divorce settlements
Learn and apply actuarial principles pertaining to retirement system funding
Clearly explain irrevocable retirement options to retirees
Interact effectively with participants in sensitive and stressful situations
Use personal computers and word-processing, database management and spreadsheet applications
Maintain confidentiality of member data
Write clear and concise letters and reports using proper English, punctuation, spelling and grammar
Communicate effectively, clearly and concisely.
More Qualifications for Success Experience:
Two years of professional experience in retirement administration or a closely related field; experience with defined benefit plans is preferred.
Education & Training:
High school diploma or GED equivalent required.
Associate’s degree in business administration, public administration, benefits administration, finance, economics, or accounting is preferred.
License or Certificate:
Certified Employee Benefit Specialist (CEBS), Retirement Plans Associate (RPA), Certificate of Achievement in Public Plan Policy (CAPPP), or other comparable professional credentials are preferred.
Experience providing retirement benefits administration for a public employer’s defined benefit retirement system or comparable retirement system, including experience with operating system software (PensionGold, Quikbooks) is highly desirable.
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