Member Transactions Processor

City of New York • New York, NY

22h

About The Position

The New York City Fire Pension Fund seeks a full-time Assistant Benefits Retirement Examiner/Member Transactions Processor in the Member Transactions Unit, reporting directly to the Unit Supervisor or his/her designee. Under direct supervision, performs beginning level technical work in the field of retirement benefits processing and examining; performs one or more of the following tasks: - Assist in processing monthly partial (90%) pension allowance for payment to members retiring from the 16th of the previous month to the 15th of the current month. - Assist in processing active excess (50% Additional Contributions & ITHP Waivers). - Assist in processing retired excess on contributions & interest accumulated in members' accounts in excess of Minimum Required to be refunded to members, facilitate rollovers, and annuitizations. - Facilitate the process of transfers, suspensions, resignations, priority hires. - Process options for members to allow their beneficiaries to continue to collect their pension after member's death by paying the associated costs by completing forms 12 or 15 which authorizes to reduce members' Monthly Pension Allowance. - Process Pension Loans, 1099s and Retirement Distributions. - Assists members with general questions and provides the necessary referrals & reviews records to ensure accuracy of the member’s information.

Requirements

• An associate degree or completion of 60 credits from an accredited college, including or supplemented by 9 credits in mathematics, statistics, accounting, and/or actuarial science; or
• A four-year high school diploma or its educational equivalent and two years of satisfactory full-time experience performing mathematical, statistical, actuarial or accounting computations in one or more of the following: a) a retirement or employee benefits plan; b) customer service in a financial institution; and/or c) in a position requiring the application of laws, rules and regulations and the use of statistical, actuarial or similar tables; or
• A satisfactory combination of education and/or experience equivalent to “1" or “2" above. College education may be substituted for experience in “2" above on the basis that 30 semester credits from an accredited college may be substituted for each year of required experience. However, all candidates must posses a four-year high school diploma or its educational equivalent and either 9 semester credits in mathematics, statistics, accounting and/or actuarial science from an accredited college or one year of experience as described in “2" above.

Responsibilities

• Assist in processing monthly partial (90%) pension allowance for payment to members retiring from the 16th of the previous month to the 15th of the current month.
• Assist in processing active excess (50% Additional Contributions & ITHP Waivers).
• Assist in processing retired excess on contributions & interest accumulated in members' accounts in excess of Minimum Required to be refunded to members, facilitate rollovers, and annuitizations.
• Facilitate the process of transfers, suspensions, resignations, priority hires.
• Process options for members to allow their beneficiaries to continue to collect their pension after member's death by paying the associated costs by completing forms 12 or 15 which authorizes to reduce members' Monthly Pension Allowance.
• Process Pension Loans, 1099s and Retirement Distributions.
• Assists members with general questions and provides the necessary referrals & reviews records to ensure accuracy of the member’s information.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: Associate degree