PENSION SPECIALIST 2

Memphis Light, Gas and Water•Memphis, TN

1d•Onsite

About The Position

The Pension Specialist 2 will calculate and communicate provisions of the Division Employee Benefits Program to active and retired employees; and interpret provisions of Pension Resolution. This role involves calculating retirement/survivor and termination benefits, lump sum distributions, and verifying employee length of service. The specialist will communicate provisions of all retiree programs, prepare benefit publications, and coordinate information for the Annual Benefits Report. They will also notify personnel of benefit changes, update policies, conduct employee orientations and counseling sessions, and coordinate pension election activities. Additionally, the role includes making payroll changes, reconciling deductions, processing retirement payroll, and preparing tax forms. The specialist will review legislative matters, provide information for actuarial studies, respond to subpoenas, and may make court appearances. Planning and coordinating retiree activities, implementing new retirement programs, and recommending technological changes are also key responsibilities. The role may involve working on special projects, preparing requests for proposals, and performing other directed duties.

Requirements

A valid driver's license from state of residence is required.
Bachelor's Degree in Business Administration or related field is required.
2 years of experience as a Pension Specialist 1 with a three (3) rating for two (2) consecutive years as a level 1 or a (4) rating in last year as a level 1 is required.

Nice To Haves

2 years of experience in Benefits Administration with defined benefit or defined contribution plans preferred.

Responsibilities

Calculate retirement/survivor and termination benefits and lump sum distributions.
Calculate/verify employee length of service.
Communicate provisions of all retiree programs including retirement/survivor benefits and deferred compensation.
Prepare various benefit publications, articles and newsletters.
Provide all communications on open enrollment.
Coordinate/review/distribute information for the Annual Benefits Report.
Notify appropriate Division personnel/departments and active/retired employees of retirement benefit changes.
Update personnel policies, plan documents/resolutions and handbooks on changes pertaining to pension.
Conduct focus group meetings, employee orientations, seminars and individual counseling sessions with employees/retirees.
Schedule meetings/appointments with customers and assist walk-in customers.
Coordinate scheduling of deferred compensation informational meetings.
Perform pre-retirement counseling.
Coordinate activities of the pension election.
Prepare/distribute Pension Board minutes.
Make active payroll/deferred compensation changes and reconcile deductions.
Process retirement payroll.
Reconcile payroll amounts/transmit data to financial institutions.
Assist with bank reconciliation.
Prepare various paperwork including tax forms.
Review mandated legislative matters and determine impact to the Division.
Provide information and assistance for actuarial studies.
Obtain legal opinions and notify appropriate personnel of change in laws.
Respond to subpoenas.
May make court appearances.
Plan/coordinate retiree activities/functions.
Attend retiree meetings.
Provide referral services for the elderly.
Coordinate implementation of new retirement programs and make recommendations.
Stay abreast and recommend various technological changes/systems concerning retirement benefits.
Update/review contracts with outside vendors.
Work on special projects and prepare requests for proposals, surveys and related information.
Perform other duties as directed.