Benefits Accountant I - Retirement
About The CompanyUtah Retirement Systems (URS) provides benefits for state and other Utah public employees. It has two divisions. The Retirement Office administers pension and retirement savings plans. PEHP specializes in medical, dental, life, and other benefits.We are actively recruiting for this position. Interviews will be conducted virtually.Also, due to COVID–19, this position will work remotely until our Office re–opensJob DescriptionPOSITION SUMMARYPerforms 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 DUTIESReviews retirement paperwork and compares to 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 to be made 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 and verifies input for benefit calculations. Reviews payment set–ups 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 strict confidentiality.Performs other related duties as required.Required ExperienceEducation and ExperienceHigh 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 AbilitiesThis 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 writingMust 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 EnvironmentIncumbent 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.