What are the responsibilities and job description for the Benefits Admin Representative - Retirements position at TEACHERS RETIREMENT SYSTEM?
- TEACHERS RETIREMENT SYSTEM
- Full-Time
- Exam May Be Required
Job Description
Since 1917, the Teachers’ Retirement System of the City of New York (TRS) has been securing better futures for NYC educators. With a pension fund valued at approximately $120 billion, TRS serves over 215,000 members, providing them with retirement, disability, and death benefit services.
TRS' Qualified Pension Plan (QPP) is a defined benefit plan that provides members with a monthly retirement allowance upon meeting certain eligibility requirements. TRS members can also enhance their benefits with a Tax-Deferred Annuity (TDA) Program, which offers multiple investment options and tax-deferred earnings.
At TRS, we seek dedicated professionals who are passionate about their work and committed to excellence. We pride ourselves on our member-centric culture, focused on delivering outstanding service and support to our members.
Position Overview
The Benefits Administration Department is seeking a motivated and member-centric professional to join the Retirements Unit. The ideal candidate will play a pivotal role in ensuring the accuracy and compliance of retirement benefit calculations, collaborating with various departments, and addressing complex member inquiries. Reporting to the Retirement Unit Manager, the duties and responsibilities include, but are not limited to:
Key Responsibilities
- Review large volumes of scanned member documents to verify the accuracy of employment history and benefit information, ensuring retirement benefit calculations are accurately recorded in compliance with established service level agreements (SLAs).
- Perform and assess pension and contingent benefit calculations according to established business rules and current regulations.
- Work closely with other departments to identify and address process improvements, ensuring that members' pensions and contingent benefits are finalized promptly and professionally.
- Address and respond to complex member inquiries, concerns, and questions escalated from Member Services; review requested information from other departments and update the system with accurate data as needed.
- Collaborate with other business units and City/State agencies to resolve identified issues and to ensure benefits are disbursed accurately and on time.
- Support system and user acceptance testing to verify that both existing and new functionalities operate correctly in accordance with established business rules, meeting operational level agreements (OLAs) and service level agreements (SLAs).Provide mentorship and guidance to fellow retirement representatives as needed.
- Support special projects and perform other duties as assigned.
ASSOCIATE RETIREMENT BENEFITS - 40493
Minimum Qualifications
1. An associate degree or completion of 60 semester credits from an accredited college or university, including or supplemented by 9 semester credits in mathematics, statistics, accounting and/or actuarial science and two years of satisfactory full-time experience performing mathematical, statistical, actuarial or accounting computations in one or more of the following: a) a retirement or employee benefits plan;
b) for customer service in a financial institution; and/or c) in a position requiring the application of law, rules and regulations and the use of statistical, actuarial or similar tables; or
2. A four-year high school diploma or its educational equivalent approved by a State's Department of Education or a recognized accrediting organization and four years of the experience described in "1" above. Each 15 semester credits from an accredited college including at least 3 credits in the areas described in "1" above may be substituted for each 6 months of experience to a maximum of 2 years experience. All candidates must have a four-year high school diploma or its educational equivalent and at least 2 years of experience as described in "1" above.
Preferred Skills
Minimum Qualifications - Permanent Associate Benefits Retirement Examiner. Preferred Skills - Demonstrated experience performing advanced math calculations and understanding of basic accounting rules, principles, and practices, essential for ensuring precise retirement benefit computations and accurate handling of financial data related to pensions. - Strong attention to detail, enabling accurate execution and verification of retirement benefit calculations in alignment with the latest regulations and legislation. - Knowledge of New York City pension rules and regulations, critical for ensuring adherence to local policies. - Proficiency in Microsoft Excel and Word, essential tools for managing and analyzing data effectively. - Excellent communication skills, both verbal and written, facilitating clear and professional interactions with members and colleagues.
Residency Requirement
New York City residency is generally required. However, City Employees in certain titles who have worked for the City for 2 continuous years may also be eligible to reside in Nassau, Suffolk, Putnam, Westchester, Rockland, or Orange County.
Additional Information
The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.
Shortlist
- Experience Level:Experienced (Non-Manager)
- Category:Policy, Research & Analysis
Salary : $66,421 - $75,000
