What are the responsibilities and job description for the Retirement Benefits Specialist-161096 position at Adams County?
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.
- Possesses a thorough and accurate understanding of the benefits offered under the Retirement Plan and assist members by explaining Plan provisions, eligibility rules and benefit options.
- 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. Processes monthly terminations for members who no longer are employed by the Employers.
- Performs accounting functions including reconciliation of accounts, preparing and posting general ledger entries, and data entry.
- Assists with the day-to day Plan administration, including updating member records, processing routine transactions and ensuring documentation is complete and accurate.
- Compiles and organizes data for actuarial valuation, annual audit and monthly trustee reconciliations.
- Serves as a backup 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.
- 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.
- Assists with maintaining and updating the Retirement website and supports system maintenance by testing applications regarding operating system software changes.
- 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.
- Serves as Corresponding Secretary for Retirement Board.
- Attends All Board Meetings.
- 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
- Enter data using computer keyboard
- Maintain confidentiality of member data
- Write clear and concise letters and reports using proper English, punctuation, spelling and grammar
- Work effectively under deadlines
- Communicate effectively, clearly and concisely.
Any combination of experience, education, and training that would likely provide the required knowledge and abilities is qualifying. A typical way to obtain the knowledge and abilities would be:
Experience: Two years of professional retirement administration experience.
Education & Training: Associate’s Degree in business administration, public administration, benefits administration, finance, economics, accounting.
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 employee’s retirement system or comparable retirement system, including experience with operating system software (PensionGold, Quickbooks) is highly desirable.
Salary : $50,000 - $80,000