Benefits Analyst - 60484 | Analyst in Job Job at State of Illinois in Springfield IL | 7235629123

This listing was posted on State of Illinois.

Benefits Analyst - 60484

Location:

Springfield, IL

Description:

Agency : Teachers' Retirement System of the State of Illinois Closing Date/Time: Salary: 210 - $49,670 - $63,577 Job Type: Salaried Full Time County: Sangamon Number of Vacancies: 1 **************** A RESUME IS REQUIRED FOR THIS JOB POSTING **************** Please attach a DETAILED Resume/Curriculum Vitae (CV) to the MY DOCUMENTS section of your application. You WILL NOT be considered for the position if you attach a CMS100, CMS100b or any other document that is not a Resume or CV. Job Summary Under the supervision of the Benefits Manager, the Benefits Analyst I is responsible for: processing and calculating one type of claim (retirement, refund and single sum, APB, disability, or survivor benefit) and calculating the associated recalculations with proficiency, or processing and calculating five types of optional service adjustments with proficiency. The Illinois Pension Code and related administrative rules along with appropriate procedural manuals should be used to accomplish these tasks. This position is responsible for responding to inquiries regarding benefit claims or optional service adjustments and working with the Benefits Manager to accomplish assigned tasks. In addition, this position provides technical and clerical support to the Benefits Department. This position would work in the Retirements, Member Accounts and Refunds, or Survivor and Disability areas. This position is responsible for analyzing, researching, and gathering documents and other information that allow for the accurate and timely processing of benefit claims or optional service adjustments. The incumbent must possess a basic knowledge of the assigned benefit calculations or optional service adjustments and routine rollover information. The incumbent must also be familiar with Article 16 of the Illinois Pension Code as it relates to the assigned benefit claims or optional service adjustments. In addition, the incumbent will assist with mailings, handling telephone inquiries, resolving refund discrepancies and processing of Social Security and divorce estimate requests. The incumbent must possess organizational skills, excellent analytical skills, and the ability to communicate in a clear and concise manner the provisions of the Pension Code with co-workers and the public both verbally and through written correspondence. The greatest challenge of this position is to complete large volumes of work, at a quick pace, without sacrificing quality. Essential Functions Maintain an understanding of existing statutory requirements, rules and procedures that determine retirement options and benefits. Receive requests for income verification letters, publications, specialized forms, and other documents; respond in an accurate and timely manner. Use Excel spreadsheets and computerized procedures to calculate benefit claims including age retirement annuities, reversionary, optional service adjustments, and single-sum retirements. Analyze and prepare all necessary calculation and benefit information to provide comprehensive and concise information to members. Organize refund and single sum, disability, APB, survivor benefits, and/or retirement applications for claim processing as needed. Provide technical and clerical support to the benefits department including but not limited to preparing letters for review and approval, mailing, scanning, recording receipt of documents, and reviewing voicemails, emails, and various User Action Request reports. Review daily work and determine how work should be distributed throughout the unit including identifying “Rush” requests. Calculate one type of claim or five types of optional service adjustments using the appropriate applications for verification by another analyst. Contacting employers when necessary to determine excess salary cost and excess sick leave cost billed to employers on retirement claims. Reviewing and analyzing documentation such as contracts, board minutes and salary charts received from employers to make sure calculation and billing is accurate and ensuring proper documentation is received per Pension Code. Essential Functions (Continued) Reviewing QILDRO court documents to calculate anticipated adjustments on retirement claims. Analyze changes, review, and submit claim recalculations, as needed. Analyze and submit miscellaneous adjustments, as needed. Review, analyze, and interpret homebound documentation, W2 forms, Social Security Itemized Statement of Earnings and other pertinent documentation sent to TRS from the member or their employer with assistance from more senior staff members. Analyze and audit member records following the Illinois Pension Code and statutory requirements to determine eligibility for benefits or optional service. Respond to inquiries and correspondence received from members and internal staff. Modify standard letters or create customized letters, as needed. Review and submit Excess Contribution Refunds and 1% Survivor Benefit Refunds. Follow up with members, school districts, retirement systems, and financial institutions as necessary. Analyze and research returned warrants to determine steps needed to ensure the acceptance of transactions to financial institutions. Collaborate with State Comptroller’s office, accounting department, members, and financial institutions to safeguard the acceptance of the funds as needed. Calculate and submit divorce estimates Analyze, research, and meet IRS mandated time guidelines for the annual Required Mandatory Distribution as needed. Analyze and research the annual Member Accumulated Contribution research project as needed. Essential Functions (Continued) Retrieve reciprocal service histories via the Illinois Municipal Retirement Fund (IMRF) and State Universities Retirement System (SURS) website and maintain a follow up system with the Chicago Teachers’ Pension Fund (CTPF) via email or phone contact when required or requested. Receive, review, and process out of state verification forms (OSV’s) regarding past Illinois teaching service. Send responses to member or employer as required Analyze and calculate Social Security eligibility letters and/or income verifications as needed. Review legal documents, including trust and probate documents for proper payment of death claims. Review workers compensation documentation, to calculate credit and process miscellaneous adjustments. Assist in special projects using the agile scrum methodology as needed. Participate in training as required. Perform other duties as assigned. Knowledge, Skills, and Abilities Ability to analyze and interpret data Excellent interpersonal skills Ability to work within tight timeframes and meet deadlines Demonstrates a high commitment to quality Excellent organizational skills Minimum Requirements Bachelor’s degree in math, statistics, accounting, education, business, or a related degree OR Candidates without a degree must possess four (4) years of progressive responsibility in a related business or education field. Excellent analytical and organizational skills and the ability to communicate effectively with co-workers and the public both verbally and through written correspondence. Preferred experience with pensions, benefits and or employee relations Critical skills required are analytical skills, computational skills, communication skills and interpersonal skills as well as the ability to utilize existing computer applications and interact effectively and diplomatically with members Work Hours: 8:30 - 4:30 M-F Work Location: 2815 W. Washington St., Springfield, IL 62702-3397 Agency Contact: [[recruiterEmail]] Posting Group: Fiscal, Finance & Procurement TRS provides retirement benefits for teachers who are employed by all Illinois public common and charter school districts located outside the city of Chicago. The Illinois Pension Code contains the laws relating to our creation, benefits, and administration. The main form of communication will be through email. Please check your “junk mail”, “spam”, or “other” folder for communication(s) regarding any submitted application(s). You may receive emails from the following addresses: XXXX@SIL-P1.ns2cloud.com XXXX@SIL-P1.ns2cloud.com

Company:

State Of Illinois

Posted:

April 12 on State of Illinois

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