Retirement Planning Advisor I

Utah Retirement Systems•Salt Lake City, UT

About The Position

Utah Retirement Systems provides retirement benefits for more than 250,000 Utah public employees, including teachers, firefighters, police officers, and others who serve their communities. URS administers eight pension systems and four retirement savings plans, providing financial security and peace of mind for thousands of Utah families. URS is a dynamic, complex enterprise that requires collaboration from talented employees across a diverse range of fields. We take pride in maintaining a positive team environment and excellent work-life balance. We offer a competitive salary, and our benefits far exceed what most modern employers offer. POSITION SUMMARY Conducts individual retirement planning sessions, financial wellness sessions, and group seminars. Advises officials, members, and unit administrative personnel regarding retirement benefits and financial wellness principles and practices available through Utah Retirement Systems. Provides technical analysis of member retirement and defined contribution programs to facilitate quality retirement planning and program utilization.

Requirements

Bachelor’s Degree in finance, marketing, business administration, public administration, public relations, financial planning, organizational communications, or related field and two (2) years of pension/investment or related experience; or an equivalent combination of education and experience.
Must pass the Series 65 Uniform Investment Adviser Law Examination or Series 66 North American Securities Administrators Association within six (6) months of hire.
Required technical skills include the moderate knowledge and ability of: Microsoft Office Suite.
Required mathematical skills include working knowledge of: Calculating figures and amounts such as discounts, interest, commissions, proportions, percentages, and financial calculations.
Must possess excellent communication skills: Develop and deliver presentations to various groups, both small and large. Effectively communicate with members in individual retirement planning and financial wellness sessions. Communicate both verbally and in writing.
Requires the moderate knowledge of: Purposes, principles, and theory of public retirement systems, retirement laws, financial services market, economy, taxes, investment and retirement planning, public relations concepts, and financial wellness guidelines, topics, and practices.
Must have the ability to: Follow written and verbal instructions. Prioritize work. Perform within deadlines.
The incumbent must always demonstrate judgment, high integrity, and personal values consistent with the values of URS.
Individual must be physically capable of safely operating a vehicle, possess a valid driver’s license, and have an acceptable driving record based upon data provided by a current Department of Motor Vehicle Record (MVR).

Nice To Haves

Certified Financial Planning designation is preferred. Other recognized retirement and/or investment-industry certifications are desirable.

Responsibilities

Conducts individual retirement planning sessions that include providing customized advice and recommendations on: Retirement savings plans (401(k), 457, Traditional IRA, Roth IRA). Investment options and allocations. Tier 1 defined benefit pension payout options including Partial Lump Sum Option (PLSO). Tier 2 retirement system options. Pension service credit purchasing decisions.
Develops comprehensive retirement planning snapshots for members. This includes calculating members’ retirement income sources (pension, savings plans (401(k), 457, and IRAs), and Social Security) and providing customized recommendations to help them reach their retirement goals.
Educates, provides, and assists members with: Retirement savings plans (401(k), 457, Traditional IRA, Roth IRA). Various investment and retirement planning principles. Financial markets, trends, economic indicators, investment concepts and strategies, and the landscape of competitive products and fees/costs available to individual investors. Defined benefit retirement systems’ (Tier 1 and Tier 2) benefits and options. IRS limitations and rules. Social Security concepts and strategies. Target Date Fund strategies and the risks and benefits of investing. Risk and return characteristics of investment options. Quarterly account statements and investment rates of return. Calculates projected account growth and payout stream scenarios using financial calculators.
Conducts individual financial wellness sessions that include providing customized advice and recommendations on: Debt management, including debt reduction, refinancing, and payoff prioritization. Emergency fund status and funding. Cashflow analysis and budgeting. Other financial wellness topics.
Develops financial wellness snapshots for members. This includes calculating existing time to pay off debt and fund an emergency fund. Reviews member household expenses. Provides recommendations for debt reduction and funding an emergency fund.
Educates, provides guidance, and assists members with: Paying off high-interest debt. Building up an emergency fund. Adjusting member budget expenses to prioritize member financial wellness goals.
Coordinates various aspects of departmental public relations, retirement planning, and financial wellness services. Informs and educates participating employers and prospective participating employers of policy interpretations, state codes, and guidelines.
Provides assistance to develop processes and procedures designed to enhance efficiency and effectiveness of retirement system and financial wellness educational efforts.
Provides retirement planning and financial wellness education for members and employers by giving group presentations and attending employer-sponsored benefits fairs.
Develops, organizes, coordinates, and presents employer training, employer conferences, presentations, seminars, individual retirement planning sessions, financial wellness sessions, performs on-site training for agency clerks, administrators, and employees.
Develops and administers targeted educational and outreach programs regarding retirement planning and financial wellness.
Keeps in regular contact with and surveys members, employers, and retirees to evaluate the effectiveness of support and outreach programs as well ensures members are on track to reach their retirement and financial wellness goals.
Assists in determining educational and informational requirements of members and unit administrators.
Proactively increases defined contribution plan participation levels and member savings rates through presentations and individual retirement planning sessions.
Assists in developing written and web-based retirement and financial wellness materials (print, video, webinars, social media, etc.) Monitors effectiveness of informational materials and communication vehicles and makes modifications as appropriate.
Assists in monitoring changes or pending changes in retirement system and defined contribution programs resulting from revisions in state and federal laws and industry best practices. Updates training materials, presentations, and members on changes.
Promotes services and programs and builds a positive public image of the system.
Conducts financial analysis of the impact of deferred compensation on total retirement benefits.
Maintains current industry knowledge and trends through ongoing continuing education.
Maintains regular and reliable attendance.
Maintains strict confidentiality.
Performs other related duties as required.