Benefits Analyst I

Teachers' Retirement System of the State of Illinois • Springfield, IL

6d • $53,907 - $84,095

About The Position

The Benefits Analyst I processes and calculates benefit claims or optional service adjustments for the Teachers’ Retirement System of the State of Illinois. Under the supervision of the Benefits Manager, the analyst is responsible for proficiency in either one type of claim—retirement, refund and single sum, APB, disability, or survivor benefit—and associated recalculations, or five types of optional service adjustments. Work is performed in the Retirements, Member Accounts and Refunds, or Survivor and Disability areas, using the Illinois Pension Code, related administrative rules, procedural manuals, and computerized applications.

The position analyzes and researches member records and supporting documents to process claims and adjustments accurately and on time, responds to member and staff inquiries, and provides technical and clerical support to the Benefits Department. The role requires a basic knowledge of assigned calculations and routine rollover information, familiarity with Article 16 of the Illinois Pension Code, and the ability to explain applicable provisions clearly to coworkers and the public. A central challenge is completing high volumes of work quickly without compromising quality.

The position requires a bachelor’s degree in mathematics, statistics, accounting, education, business, or a related field. Candidates without a degree must have four years of progressive responsibility in a related business or education field. Pension, benefits, or employee-relations experience is preferred. The listed pay range is $53,907 to $84,095, with compensation determined by qualifications and experience.

Requirements

• Bachelor’s degree in mathematics, statistics, accounting, education, business, or a related field; candidates without a degree must have four years of progressive responsibility in a related business or education field.
• Excellent analytical and organizational skills and the ability to communicate effectively with coworkers and the public, verbally and in writing.
• Ability to analyze and interpret data.
• Excellent interpersonal skills.
• Ability to work within tight timeframes and meet deadlines.
• Demonstrated commitment to quality.
• Computational, communication, and interpersonal skills, including the ability to use existing computer applications and interact effectively and diplomatically with members.

Nice To Haves

• Experience with pensions, benefits, or employee relations.

Responsibilities

• Maintain an understanding of statutory requirements, rules, and procedures governing retirement options and benefits.
• Receive requests for income verification letters, publications, specialized forms, and other documents, and respond accurately and promptly.
• 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 for members.
• Organize retirement, refund and single-sum, disability, APB, and survivor benefit applications for claim processing as needed.
• Provide technical and clerical support, including preparing letters for review, mailing, scanning, recording document receipts, and reviewing voicemails, emails, and User Action Request reports.
• Review daily work, determine work distribution within the unit, and identify rush requests.
• Calculate one type of claim or five types of optional service adjustments using appropriate applications for verification by another analyst.
• Contact employers to determine excess salary and excess sick leave costs billed on retirement claims; review employer documentation and ensure calculations, billing, and required documentation are accurate.
• Review QILDRO court documents to calculate anticipated adjustments on retirement claims.
• Analyze changes and submit claim recalculations and miscellaneous adjustments as needed.
• Review and interpret homebound documentation, W-2 forms, Social Security earnings statements, and other pertinent documents with assistance from more senior staff as appropriate.
• 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 necessary.
• Research returned warrants and coordinate with the State Comptroller’s office, accounting department, members, and financial institutions to help ensure transactions are accepted.
• Calculate and submit divorce estimates.
• Research and meet IRS-mandated time guidelines for the annual Required Mandatory Distribution as needed.
• Research the annual Member Accumulated Contribution project as needed.
• Retrieve reciprocal service histories through the 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 concerning 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 trust and probate documents for 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 training as required.
• Perform other duties as assigned.

Benefits

• Medical coverage
• Dental coverage
• Vision coverage
• Participation in the TRS retirement pension plan
• Option to contribute to State of Illinois deferred compensation plans
• The TRS pension plan is reciprocal with other state and local pension plans, including SERS, SURS, and IMRF

What This Job Offers

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