Retirement Pension Specialist

Location: Washington, DC
Date Posted: 08-16-2018
BASIC FUNCTION:                 
The Retirement Benefits Specialist provides support in the day-to-day operations of Retirement Program
Administration functions to the work group/team and serves as a resource to participants and vendors.  
 
SUPERVISORY ACCOUNTABILITY:              
Involves no responsibility or authority for the direction of others.
 
NATURE AND SCOPE:            
Internal contacts may include senior administrators, faculty, and staff.  External contacts may
include vendors, and consultants.
 
PRINCIPAL ACCOUNTABILITIES:     
Serves as resource to benefit participants, vendors, consultants, faculty, and staff.  Greets visitors, relays
messages, answer questions, clarifies information, responds to requests, researches and resolves
problems, explaining retirement program policies and procedures or referring inquiries to appropriate
personnel. 

Calculate pension payment amounts.

Provide participants with benefit estimates.

Process pension applications.

Explain pension benefits to participants.

Interpret and follow the rules outlined in Plan Documents.

Draft correspondence to participants.

Answer incoming participant calls relating to the Pension Plans.

Regularly meet with participants to answer questions related to their pension benefits, communicate with other Fund Professionals.
 
Reviews and processes retirement applications based on participant eligibility.
 
Counsels participant with the retirement application process and selection of options.
 
Computes benefit calculation estimates based on eligibility of participants.
 
Submits benefit calculations to the Actuary to verify participants benefit calculations and elections options.
 
Tracks, monitors and responds to benefit calculation Actuary requests.
 
Processes and stops benefit payments and deductions as appropriate.
 
Processes refunds in pension system for timely payment.
 
Processes beneficiary claims and secures required documentation.
 
Assists with the processing of the monthly benefit payments.
 
Performs member change requests (i.e. direct deposit, address)
Process Qualified Domestic Relations Orders (QDRO) and submits for payment as appropriate.
 
Assist with the 403(B)-data entry of employer basic contribution for new hires.
 
Maintains retired member files.
 
Updates participant files with tax changes, bank changes, etc.
 
Researches participant discrepancies with 403(B) employee and employer contributions. 
 
Collects and compiles statistical data and other information for project resolutions and audits.
 
Performs data entry for retirement programs with high degree of accuracy.
 
Operates standard office equipment (telephone, computer, printer, fax, copier), files and to provides
clerical support to the work group/team.   
 
Performs other related duties as assigned.
 
CORE COMPETENCIES:          
Knowledge of the principles, practices and methods associated with retirement programs administration
and audits.
 
Proficiency in the operation of computers, related software applications (word-processing, spreadsheet,
database, graphic presentations, as well as other standard office equipment information systems, etc.)
and standard office equipment.
                               
Demonstrated ability to interpret and apply a variety of rules, policies and procedures with attention to
detail.
 
Ability to meet deadlines and multitask. 
 
Ability to assist in facilitating progressive change.
 
Communicate effectively orally and in writing with a diverse population.
 
Ability to operate within a team environment and facilitate consensus.
 
Ability to exercise discretion and ensure a high level of confidentiality.
 
Ability to establish and maintain an effective and harmonious working relationship with all levels of
management, vendors, and participants.
 
MINIMUM REQUIREMENTS:                   
Associate’s degree in Business Administration or related field; and, 4 years of Human Resources experience with a minimum of three to five years of experience in defined pensions and retirement administration. Thorough knowledge of MS-Office Suite (Word, Outlook, PowerPoint, advanced Excel e.g., PIVOT TABLES, VLOOKUP, access)

Must be able to stand, walk, sit, lift (12-25lbs), stoop, kneel, bend, pull, push, reach,
handle, write, type, speak, hear, see, calculate, compare, edit, evaluate, interpret, and
organize for extended periods of time.
 
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