Retirement Benefits Processor I

About The Company

Utah Retirement Systems provides retirement benefits for more than 250,000 Utah public employees, including teachers, firefighters, police officers, and others who serve their communities. URS administers eight pension systems and four retirement savings plans, providing financial security and peace of mind for thousands of Utah families. URS is a dynamic, complex enterprise that requires collaboration from talented employees across a diverse range of fields. We take pride in maintaining a positive team environment and excellent work-life balance. We offer a competitive salary, and our benefits far exceed what most modern employers offer.

Job Description

POSITION SUMMARY

Performs a variety of technical duties to deliver day-to-day services of the Defined Benefit Retirement Department. Computes lifetime benefit payments for all Utah Retirement Systems (URS) and the Utah Governors and Legislators Retirement Plans.

Essential Job Functions And Duties

• Reviews retirement paperwork and compares the information received from the members and the employer(s) to determine eligibility for retirement.
• Analyzes and determines creditable service and salary from available employment records and assures credited service complies with rights accrued under Title 49.
• Examines compensation, detects discrepancies, and determines eligibility through obtaining and analyzing the employer compensation policy and Title 49. Requests refunds when compensation is deemed ineligible.
• Performs research of individual records to verify eligible compensation, service eligibility, previous refunds, re-deposits, and related activity.
• Reviews and audits team members’ work for accuracy and suggests corrections when necessary.
• Calculates and enters transactions to complete the calculation of salary and service, which involves transferring contributions to the general ledger and combining service credit from more than one system. Sets up payment of actual benefits, verifies input for benefit calculations, reviews payment setups, and releases records for payments.
• Reconciles monthly retirement benefits.
• Analyzes, determines eligibility, and computes actual cost for service purchases, re-deposits, and adjustments as requested by members. Provides explanations, including information on installment payments and rollovers from qualified plans.
• Generates correspondence requesting or providing information to/from members and employers as needed to expedite the processing of various account actions.
• Achieves productivity and quality guidelines established by department standards.
• Performs monthly audits on completed retirement payments to ensure account accuracy and identifies additional training needs of team members.
• Maintains regular and reliable attendance.
• Maintains strict confidentiality.
• Performs other related duties as required.
  
  

Required Experience

Education and Experience

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

This list contains knowledge, skills, and abilities that are typically associated with the job. It is not all-inclusive and may vary from position to position:

Required technical skills include the working knowledge and ability of:

• Computer operations and technical software applications.
• Microsoft Office Suite.
• Operating a 10-key calculator.
• Imaging process.
  
  

Required Mathematical Skills Include Working Knowledge Of

• Accounting, bookkeeping, and related statistical procedures.
• Mathematical concepts and logic.
• Perform complex mathematical formulas and calculations relating to calculation of benefit estimates.
  
  

Required Working Knowledge Of

• Purposes, principles, and practices of public retirement systems.
• Retirement laws, codes, policies, and guidelines.
  
  

Must Possess Excellent Communications Skills

• Interpersonal conflict resolution method.
• High-level skill in technical writing.
• Editing and proofreading.
• Effectively promote organization and services offered.
• Interpersonal communication theory and methods.
• Communicate effectively verbally and in writing.
  
  

Must Have The Ability To

• Follow written and verbal instructions.
• Apply critical thinking techniques.
• Analyze and solve problems.
• Prioritize work.
• Perform within deadlines.
• Ability to stay focused despite interruptions.
• Work well in a team environment as well as independently.
• Memory for details.
  
  

The incumbent must always demonstrate judgment, high integrity, and personal values consistent with the values of URS.

Work Environment

Incumbent performs in a typical office setting with appropriate climate controls. Tasks require a variety of physical activities which do not generally involve muscular strain, but do require activities related to walking, standing, stooping, sitting, reaching, talking, hearing, and seeing. Common eye, hand, finger dexterity required to perform essential functions.