Benefit Administration Analyst
About The Position
The Massachusetts State Retirement Board (MSRB) administers a defined benefit retirement plan for eligible employees of the Commonwealth and certain entities. The Benefit Administration Analyst works as a team member to support monthly pension payroll, maintain accurate payee account data, and support scheduled benefit processes such as benefit verification and retiree cost-of-living adjustments (COLA). The analyst responds to inquiries from retirement System members and supports other MSRB teams on matters related to benefit payments. The role also involves developing proficiency with the OnBase ECM System, prioritizing projects, meeting deadlines, resolving complex issues, and following Treasury and Board employment and operational policies. New hires complete an in-office orientation that combines virtual, in-person, and on-the-job training. After orientation, employees gradually transition to a hybrid schedule over the first 3–8 weeks. The ongoing hybrid schedule includes two office days each week, one of which must be Monday or Friday, and one additional mandatory in-person department meeting day per month.
Requirements
- Bachelor's degree or relevant experience.
- Working knowledge of and comfort using Office 365 products, including Outlook, Word, Excel, PowerPoint, SharePoint, and Teams.
- Excellent mathematical skills.
- Analytical, focused, highly organized, and detail-oriented.
- Willingness to learn retirement plan rules under Massachusetts General Laws Chapter 32, Board regulations, and policies.
- Ability to develop and augment MARIS and MSRBeyond skills and learn new topics and processes in depth.
- Self-motivated, able to remain focused through task completion, and able to adhere to processing deadlines.
- Excellent customer support and interpersonal skills.
- Willingness to research, analyze, and collaborate to resolve issues independently and as part of a team.
- Ability to lift up to 10 pounds.
- Ability to sit for extended periods.
Nice To Haves
- Interest in employee benefits administration, payroll, finance, or a related field.
Responsibilities
- Suspend retirement benefit payees as requested and monitor ongoing suspensions for possible termination.
- Support the accelerated payments process and respond to member inquiries.
- Assist with monitoring the trial pension payroll process by reviewing reports, addressing anomalies, and escalating issues to QA, a Manager, and/or a Director.
- Develop knowledge of IRS tax rules for periodic and lump-sum distributions, including tax exclusion amounts, to support the annual 1099R process.
- Support the non-resident alien project related to address changes.
- Support monthly warrant processing of benefit over-earners from the PTG system.
- Process child support orders.
- Support the retiree COLA process.
- Enter and update payee data, including direct deposit information, demographic information, and manual health insurance deductions.
- Update Option B beneficiaries.
- Update power of attorney records.
- Follow up on outstanding and returned checks.
- Respond to third-party inquiries regarding retiree benefits, such as Social Security verifications and long-term disability claims.
- Respond to PayInfo inquiries.
- Complete other assigned tasks and office special projects.
- Develop proficiency with the OnBase ECM System.
- Prioritize projects, manage deadlines, and work effectively under pressure.
- Resolve complex issues in a timely and effective manner.
- Adhere to Treasury and Board employment and operational policies.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
