Retirement Payroll Specialist

Colorado Public Employees' Retirement Association•Denver, CO

22h•Hybrid

About The Position

The Retirement Payroll Specialist position is responsible for preparing, processing, and balancing PERA’s Defined Benefit (DB) monthly payroll for its approximately 142,000 recipients. This role includes processing various account modifications including but not limited to account termination, payee changes, returned benefit payments and auditing of the annual 1099-R files. This position requires the ability to understand and apply both accounting and general mathematical principles as well as the ability to generate and explain detailed communications. It also requires the skills to manage complex and sensitive benefit information with empathy and professionalism, while ensuring strict compliance with applicable PERA law, rules and policies. This role is not part of the organization’s Human Resources Department and is not the same as a position that processes employee payroll.

Requirements

Bachelors in Mathematics, Accounting, or another related field is preferred or three (3) or more years of relevant experience, preferably supporting retirement benefits and/or payroll, or an equivalent combination of education and experience
Highly detail oriented with a strong aptitude for analytical reasoning, mathematical skills, and calculation background
Strong verbal and written communication skills with knowledge of correct English usage, spelling, grammar and punctuation
Ability to deal with sensitive and/or confidential information or situations in a professional manner
Ability to provide excellent customer service to both internal and external stakeholders
Capable of working successfully both independently and within a team-focused environment
Knowledge of Microsoft Office Suite and related business software
Ability to prioritize, organize and work with minimal supervision

Nice To Haves

Ideal candidate is a detail-oriented, team player with strong numerical and analytical aptitude.
The individual that we are seeking should have a positive attitude and a proven record of delivering excellent customer service, both written and verbal.
The candidate must be flexible, adaptable, and able to perform the job accurately even when there are interruptions of their normal day-to-day workflow.

Responsibilities

Ensure timely and accurate processing of PERA’s monthly benefit recipient payroll in accordance with federal and state statutes and/or PERA rules
Use strong mathematical and analytical reasoning to effectively process calculations and identify data inconsistencies so that information can be provided within a tight deadline
Develop a thorough understanding of all aspects of PERA’s defined benefit program and provide efficient, reliable information to internal and external stakeholders using both verbal and written skills
Conduct a range of intermediate to advanced defined benefit calculations and accurately process modifications to benefit payments
Ability to communicate in a professional, caring, and compassionate manner about benefit program and payment information with members, retirees, estate representatives, and family members through in-office meetings, telephone calls, written correspondence, and email
Demonstrate a sense of urgency and commitment to meet assigned deadlines, ensuring timely completion of tasks and contributing to the overall efficiency of team operations
Manage multiple interruptions while achieving a consistent level of accuracy in completed tasks
Ability to research and process benefit recipient account updates including deductions, direct deposit, federal and state withholding, contact information, life events, and beneficiary designations
Investigate and resolve payroll-related issues, including returned benefit checks, returned direct deposits, and uncashed benefit payments
Collaborate with team members and other stakeholders to identify opportunities for reducing future errors and improving transactional efficiency through active participation in continuous process improvement
Contribute to the development and maintenance of benefit payroll-related systems, databases and future upgrades
Participate in training and educational opportunities for ongoing professional development
Maintain regular and prompt attendance in the workplace to ensure consistent support for team objectives
Carry out other duties and special projects that are assigned
Monitor benefit eligibility, and perform calculations for the PERA survivor benefits program and domestic relations orders (DRO) to ensure compliance with statutory requirements
Participate in the yearly calculation, audit, and validation of 1099-R documentation and reporting for benefit recipients
Coordinate with all Benefit Administration teams or other departments across the organization including, Member Services, Accounting, Customer Service, and Insurance to ensure successful end-to-end processing for cross-functional and overlapping transactions