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Retirement Benefits Administrator |
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| Position: |
Retirement Benefits Administrator |
| Date: |
01/01 |
| Position Code: |
2447 |
| EEO Code: |
227 |
Job Summary
Reporting
to Benefits Manager, oversees day-to-day retirement-related operations
providing guidance and assistance relative to policies, practices
and procedures applicable to the Institution's retirement programs.
Major Duties
- Serves as authoritative source to Institution
employees and retirees relative to the Institution's retirement-related
programs.
- Coordinates and monitors retirement programs.
Interfaces with prospective retirees as well as retired employees
and families concerning application of the retirement plans
and other retiree benefits.
- Trains, and provides guidance to, Human Resources
staff in day-to-day retirement-related tasks. May also
provide guidance with regard to benefits-related policies and
procedures.
- Prepares and/or verifies retirement estimates,
final retirement calculations and annual cost-of-living increases.
Interfaces with fund custodian, actuaries, legal counsel, etc.
Produces various notifications. Tracks and administers
processing of lump sum distributions to eligible terminated
employees. Purchases annuities. Performs activities
related to pension trust payments, assists in tracking pension
costs and in preparing annual budget. Participates in
design, implementation and coordination of pre-retirement planning
programs for employees and families.
- Ensures compliance with Institution policies
and federal/state requirements and regulations. Prepares
and submits timely reports required by law to be filed with
federal/state agencies. Coordinates Institution benefits
with government-sponsored benefits (e.g. Medicare, Social Security).
- Coordinates Retirement Committee meetings
and acts as Secretary for Retirement Committee.
- Provides assistance to the Benefits Manager,
as requested, relative to retirement and benefits-related issues
utilizing a broad knowledge of Institution human resources policies,
practices and procedures and a thorough knowledge of the Institution's
retirement-related and benefits programs.
- Interfaces with internal and external sources.
Develops retirement-related information and statistical and
census data. Assists in evaluating and comparing applicable
existing benefits with those of other employers/sources and
provides recommendations to supervisor. Assists in developing
specifications for new/modified plans, soliciting and evaluating
quotations, and/or making recommendations to management.
- Develops, updates and/or presents various
communications (such as announcements, newsletter articles,
materials for meetings, plan descriptions, benefits statements).
- Identifies opportunities, defines problems,
and recommends viable solutions which include action plans and
timetables. Assists in the development of administrative
procedure manuals, forms, reports, etc.
- Maintains thorough knowledge of pension,
tax and government legislation, socioeconomic trends, and court
decisions related to areas of responsibility. Informs
supervisor of developments and trends that presently or potentially
impact areas of responsibility.
- Serves as support and backup to other Human
Resources Office positions as necessary.
- Performs such other duties, as the supervisor
may deem necessary.
Desired Education/Experience for Hiring
College
degree with at least 3-5 years experience or equivalent work experience.
Work experience should have been in human resources functions with
a solid foundation in retirement/pension. Working knowledge
of pension and Social Security law. Proven ability to demonstrate
good interpersonal, written, verbal, mathematical and organization
skills, exercise discretion and sound judgment, and take initiative.
Computer competency required including electronic spreadsheets,
databases and word processing.
Last updated: February 25, 2013 |
