Benefits Analyst I

State of Illinois • Springfield, IL

6d • $53,907 - $84,095

About The Position

The Benefits Analyst I works under the supervision of the Benefits Manager in the Retirements, Member Accounts and Refunds, or Survivor and Disability areas. The role processes and calculates one type of benefit claim and associated recalculations, or five types of optional service adjustments, using the Illinois Pension Code, related administrative rules, procedural manuals, and applicable computer applications. The analyst responds to inquiries about benefit claims and optional service adjustments and provides technical and clerical support to the Benefits Department.

The position analyzes, researches, and gathers documents and information to support accurate and timely claim or adjustment processing. It requires a basic knowledge of assigned benefit calculations or optional service adjustments and routine rollover information, as well as familiarity with Article 16 of the Illinois Pension Code as it relates to assigned work. The analyst also assists with mailings, telephone inquiries, refund discrepancies, and Social Security and divorce estimate requests. The role requires strong organization and analytical ability, clear verbal and written communication, and the ability to complete large volumes of work quickly without sacrificing quality.

Requirements

• Bachelor’s degree in math, statistics, accounting, education, business, or a related field; candidates without a degree must have four years of progressively responsible experience in a related business or education field.
• Excellent analytical and organizational skills.
• Ability to communicate effectively with coworkers and the public verbally and in written correspondence.
• Ability to analyze and interpret data.
• Excellent interpersonal skills.
• Ability to work within tight timeframes and meet deadlines.
• High commitment to quality.
• Critical skills include analytical, computational, communication, and interpersonal skills, and the ability to use existing computer applications and interact effectively and diplomatically with members.

Nice To Haves

• Preferred experience with pensions, benefits, and/or employee relations.

Responsibilities

• Maintain an understanding of statutory requirements, rules, and procedures that determine retirement options and benefits.
• Receive and respond accurately and promptly to requests for income verification letters, publications, specialized forms, and other documents.
• Use Excel spreadsheets and computerized procedures to calculate benefit claims, including age retirement annuities, reversionary benefits, optional service adjustments, and single-sum retirements.
• Analyze and prepare calculation and benefit information to provide members with comprehensive, concise information.
• Organize refund and single-sum, disability, APB, survivor benefit, and retirement applications for claim processing as needed.
• Provide technical and clerical support, including preparing letters for review and approval, mailing and scanning documents, recording document receipts, and reviewing voicemails, emails, and User Action Request reports.
• Review daily work and determine its distribution throughout the unit, including identifying rush requests.
• Calculate one type of claim or five types of optional service adjustments using the appropriate applications for verification by another analyst.
• Contact employers as necessary to determine excess salary and excess sick-leave costs billed on retirement claims; review employer documentation to verify calculations, billing, and required documentation.
• Review QILDRO court documents to calculate anticipated adjustments on retirement claims.
• Analyze changes and review and submit claim recalculations and miscellaneous adjustments as needed.
• Review and interpret homebound documentation, W-2 forms, Social Security Itemized Statements of Earnings, and other relevant documentation with assistance from more senior staff.
• Analyze and audit member records under the Illinois Pension Code and statutory requirements to determine eligibility for benefits or optional service.
• Respond to member and internal-staff inquiries and correspondence; modify standard letters or prepare customized letters as needed.
• Review and submit Excess Contribution Refunds and 1% Survivor Benefit Refunds, following up with members, school districts, retirement systems, and financial institutions as needed.
• Analyze and research returned warrants and collaborate with the State Comptroller’s office, accounting department, members, and financial institutions to help ensure transactions are accepted.
• Calculate and submit divorce estimates.
• Analyze and research matters related to the annual Required Mandatory Distribution to meet IRS-mandated time guidelines as needed.
• Analyze and research the annual Member Accumulated Contribution research project as needed.
• Retrieve reciprocal service histories through IMRF and SURS websites and follow up with CTPF by email or phone when required or requested.
• Review and process out-of-state verification forms regarding past Illinois teaching service and send responses to members or employers as required.
• Analyze and calculate Social Security eligibility letters and income verifications as needed.
• Review legal documents, including trust and probate documents, to ensure proper payment of death claims.
• Review workers’ compensation documentation to calculate credit and process miscellaneous adjustments.
• Assist with special projects using the agile scrum methodology as needed.
• Participate in required training and perform other duties as assigned.

Benefits

• Medical coverage
• Dental coverage
• Vision coverage
• Participation in the TRS retirement pension plan for employees hired after August 17, 2001
• Option to contribute to additional State of Illinois deferred compensation plans

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level