Benefits Analyst I

Teachers Retirement System of Illinois•Springfield, IL

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 with associated recalculations, or five types of optional service adjustments, using the Illinois Pension Code, related administrative rules, procedural manuals, and appropriate applications. The analyst researches and gathers documentation to support accurate and timely processing, responds to member and staff inquiries, and provides technical and clerical support to the Benefits Department. The position requires basic knowledge of assigned benefit calculations or optional service adjustments, routine rollover information, and relevant provisions of Article 16 of the Illinois Pension Code. The primary challenge is completing large volumes of work quickly without sacrificing quality. The analyst maintains knowledge of statutory requirements, rules, and procedures; calculates and reviews benefit claims and service adjustments; analyzes member and employer documentation and records; and communicates Pension Code provisions and claim information clearly to members, employers, and colleagues. The position also handles related correspondence, refunds, estimates, returned warrants, verifications, and other assigned projects and duties.

Requirements

Bachelor’s degree in math, 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 analyze and interpret data.
Ability to communicate effectively and clearly with coworkers and the public, verbally and in writing.
Excellent interpersonal skills and the ability to interact effectively and diplomatically with members.
Ability to work within tight timeframes and meet deadlines.
Strong commitment to quality.
Computational skills and ability to use existing computer applications.

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 retirement, refund and single-sum, disability, APB, and survivor benefit applications for processing as needed.
Provide technical and clerical support, including preparing letters, mailing and scanning documents, recording document receipt, and reviewing voicemails, emails, and User Action Request reports.
Review daily work and help distribute it throughout the unit, identifying rush requests.
Calculate one type of claim or five types of optional service adjustments for verification by another analyst.
Contact employers about excess salary and excess sick leave costs billed on retirement claims.
Review employer contracts, board minutes, salary charts, and other documentation to verify calculations, billing, and compliance with Pension Code documentation requirements.
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 documentation with assistance from 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 needed.
Research returned warrants and coordinate with the State Comptroller’s office, accounting department, members, and financial institutions to ensure 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 the IMRF and SURS websites and maintain 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, probate, and other legal 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.