Retirement Operations Specialist Working After Retirement

Job Description

Job Description

** JOB SUMMARY **

Under general supervision of the unit manager, the incumbent will review member accounts, process routine requests for benefits, and communicate with members and other authorized entities regarding member accounts, state/federal laws, rules, regulations, and policies of the Teachers Retirement System.

MINIMUM QUALIFICATIONS & EDUCATION

• Bachelor’s degree from a (4) four-year accredited college or (3) three years of equivalent experience in a financial services or business environment, or a combination of education and work experience

PREFERRED ADDITIONAL QUALIFICATIONS

• 1 to 2 years’ full-time experience in banking, accounting, claims processing or payroll.

ESSENTIAL DUTIES & RESPONSIBILITIES

• Prepare, submit, and process routine requests relating to member benefit records and documents.
• Determine eligibility for benefits, calculate benefits and payments.
• Ensure compliance with plan provisions, state, and federal regulations.
• Analyze and review accounts for reconciliation of benefits.
• Research and determine overpayments.
• Prepare and review relevant forms and documents for authenticity, accuracy, and completeness.
• Provide prompt, accurate, and friendly customer service to members, beneficiaries, and employers regarding processes, procedures, and regulations of the retirement system.
• Manage workflow queues to ensure agency standards are met.
• Responsible for deactivating pay status and removing retirees from payroll; calculating overpayment amounts and submitting for recollection.
• Process account maintenance updates.
• Manage multiple reports and spreadsheets.
• Process Stop payments with Replacements.
• Review Retirement accounts to include, but not limited to determining selected plans, contribution amounts, refundable balances, taxable and non-taxable amounts, beneficiaries, and authorized contacts.
• Prepare and process ACH deletions, reversals, request stop payments/voids on paper checks and cancelation of retirement benefits; Prepare and remit bank reclamation requests.
• Prepare and remit health insurance memos to appropriate agencies for activation and deactivation of retiree health coverage.
• Process duplicate 1099R requests; Make corrections to 1099R as required.
• Provide account information and guidance to include, but not limited to retirees, employers, members, and external customers.
• Conduct face-to-face consultations, both scheduled and walk-in.
• Ability to work overtime as needed.
• Perform other duties as assigned.

SPECIALIZED DUTIES & RESPONSIBILITIES

** Working After Retirement **

• Monitor employment of service and disability retirees to ensure compliance with state law, IRS, and DOL regulations and TRS policies and rules.
• Analyze and review independent contracts for validity, compliance, and compensation restrictions.
• Calculate and process annual disability employment salary limitations.
• Perform mail outs to collect and verify employment information for disability retirees.
• Perform cancellations, terminations, and suspensions.
• Determine membership eligibility; analyze and review accounts for contributions.
• Process recalculations of benefits and outstanding zero balance accounts.
• Provide service purchase calculations.
• Determine retirement eligibility and review retirement applications for appropriate documentation.
• Serves as a liaison between vendors and retirees by responding to eligibility and account concerns.
• Process banking transactions and tax data.
• Provide annual compensation limit updates for retiree employment.
• Monitor Department of Labor transmission of employment data for disability retirees.
• Calculate and update interest adjustment.
• Create worksheets to compute salary for payroll record comparisons.
• Perform employment audits on noncompliant retirees and employers.
• Coordinate employer training with the Communication Division

Company Description

TRS administers the fund from which teachers in the state's public schools, many employees of the University System of Georgia, and certain other designated employees in educational-related work environments receive retirement benefits. TRS offers a defined benefit plan, guaranteeing a monthly benefit - based on a member's final average salary and service - which is payable for the life of the member, and when applicable, transferable to a member's spouse or beneficiary.

Company Description

TRS administers the fund from which teachers in the state's public schools, many employees of the University System of Georgia, and certain other designated employees in educational-related work environments receive retirement benefits. TRS offers a defined benefit plan, guaranteeing a monthly benefit - based on a member's final average salary and service - which is payable for the life of the member, and when applicable, transferable to a member's spouse or beneficiary.