Benefits Analyst I

State of Illinois • Springfield, WA

4d • Onsite

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 of the Benefits Department. The analyst processes and calculates one type of benefit claim with proficiency, including associated recalculations, or processes and calculates five types of optional service adjustments. The work is governed by the Illinois Pension Code, related administrative rules, and procedural manuals. The role also responds to inquiries about benefit claims and optional service adjustments and provides technical and clerical support to the department.

The analyst researches and gathers documents and information to support accurate, timely processing. The position requires 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 applies to assigned work. The analyst also assists with mailings, telephone inquiries, refund discrepancies, and Social Security and divorce estimate requests. The role calls for strong organization and analytical skills, clear verbal and written communication with coworkers and the public, and the ability to complete large volumes of work quickly without sacrificing quality.

The position is based at TRS headquarters in Springfield, Illinois, and is scheduled Monday through Friday, 8:30 a.m. to 4:30 p.m. TRS provides eligible employees access to the State of Illinois comprehensive benefits program. All employees hired after August 17, 2001 participate in the TRS retirement pension plan, and employees may contribute to additional State of Illinois deferred compensation plans.

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.
• 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.
• Commitment to quality.
• Computational and communication skills, including the ability to use existing computer applications and interact effectively and diplomatically with members.

Nice To Haves

• Experience with pensions, benefits, and/or employee relations.

Responsibilities

• Maintain an understanding of statutory requirements, rules, and procedures governing retirement options and benefits.
• 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 for members.
• Organize applications for refund and single-sum, disability, APB, survivor, and retirement claims as needed.
• Provide technical and clerical support, including preparing letters for review, mailing, scanning, recording document receipt, and reviewing voicemails, emails, and User Action Request reports.
• Review daily work and help determine its distribution throughout the unit, including identifying rush requests.
• Calculate one type of claim or five types of optional service adjustments using appropriate applications for verification by another analyst.
• Contact employers as needed to determine excess salary and excess sick leave costs billed on retirement claims.
• Review employer contracts, board minutes, salary charts, and other documentation to support accurate calculations and billing and ensure required documentation is received.
• 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 documents with assistance from more senior staff as needed.
• 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.
• Follow 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 support acceptance of transactions and funds.
• Calculate and submit divorce estimates.
• 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 IMRF and SURS websites and follow up with CTPF by email or phone when required or requested.
• 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 trust, probate, and other legal documents to support 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 through the State of Illinois comprehensive benefits program for eligible full- and part-time employees.
• Dental coverage through the State of Illinois comprehensive benefits program for eligible full- and part-time employees.
• Vision coverage through the State of Illinois comprehensive benefits program for eligible full- and part-time employees.
• 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