Pensions Jobs in Chicago, IL (NOW HIRING)

DEPARTMENT: Pension

POSITION TYPE: Hourly, Non-Exempt

BARGAINING UNIT: OPEIU, Local 9 Bargaining Unit

SEIU Healthcare IL Benefit Funds is a dynamic benefits administration organization committed to providing the highest quality health and retirement benefits in the most financially responsible manner, while always acting in the best interest of the union members. The Fund serves over 20,000 union workers in the Nursing Home, Home Care, Child Care and Personal Assistant industries with the delivery of health and pension benefits. Our employees epitomize the Fund’s core values of quality service, interdependence, effectiveness, and accountability, and forge an alliance with one another to carry out our shared mission and common agreements for those we serve.

Position Summary

In collaboration with internal and external stakeholders, the Pension Analyst will act as a subject matter expert and point of contact in the fulfillment of the Pension Department’s efficient and effective pension administration, data analytics and system requirements. The Pension Analyst will provide technical and analytical support to end users while collaborating with other interdepartmental teams and external stakeholders to ensure system is appropriately configured and maintained and all user and system requirements are successfully gathered, communicated, documented, and achieved in alignment with plan provisions, IRS requirements and ERISA rules and regulations under the direction of the Pension Director. This position will also assess, identify, and resolve processing, and reporting issues, while ensuring that all data reporting and analytical needs of the Pension Department are met.

The Pension Analyst will be responsible for the following:

Key Duties and Responsibilities

Pension Administration & Analysis

• Perform daily, recurring and ad hoc pension administration tasks including but not limited to analyzing and calculating various pension benefits by applying the appropriate tax rules under the IRS, the federally governed rules under ERISA, and rules and regulations of the plan.
• Investigate and troubleshoot issues within the pension benefit administration system in collaboration with technical and non-technical resources.
• Maintain knowledge of trends, developments, and changes in pension regulations and compliance while applying this knowledge to ensure that pension plans are properly administered.
• Demonstrate and maintain a thorough understanding of the pension plan provisions and the corresponding requirements for the pension system.
• Research retirement plan issues and regulations.
• As a subject matter expert and point of contact, provide analytical support, and serve as a data and technical resource for the Pension Department.
• Assist in preparing information reporting for quarterly Board of Trustee meetings.
• Prepare and provide weekly, monthly, quarterly, and annual compliance reports.
• Report on status of tasks and goals assigned to the Pension Department while adhering to and meeting established departmental and organization project plan timelines.
• Coordinate with internal and external stakeholders in the planning and analysis of efforts for new system implementations, system upgrades, enhancements, and maintenance.
• Create and execute test plans for new system implementations, system changes, and user acceptance testing.
• Effectively communicate with internal departments, such as Contributions and Eligibility, Accounting and Member Service, to understand and document departmental and interdepartmental policies, procedures, and workflows, and externally with employers, the union, plan participants and vendors.
• Demonstrate a high degree of accountability and decision-making responsibilities in relation to data maintenance and reporting.
• Provide support in annual pension planning and auditing processes.
• Analyze credited service history for various scenarios including, applicable pension calculations for members applying for disability pension benefits and attaining retirement age.
• Ensure accuracy in the completion and delivery of complex and non-standard calculations.
• Record, enter, and update member status to track progress of member files such as pensioner completed, incomplete, denials, disabled, pended, RBDs, vested benefit future payments, complete payments, and beneficiaries.
• Participate in special projects and manage multiple tasks to facilitate continuous improvement and the implementation of industry best practices within the Pension Department and organization wide.
• Attend and participate in organizational meetings, including All Staff meetings, department meetings, benefit improvement process meetings, training sessions, task force or committee meetings, and other meetings as deemed appropriate to share, discuss, and solution for question or error trends, as well as identify potential process improvements.
• Create agendas using the Purpose, Outcome and Process (POP) Model, and thorough notes must be kept for each meeting.

Desired Qualifications, Experience, and Characteristics:

Professional Qualifications & Experience

• A minimum of five (5) years’ of demonstrated defined benefit experience processing pension and/or retiree benefit claims experience working in a Taft-Hartley environment, third party administration (TPA), non-profit, labor union and/or mission-driven organizations.
• Bachelor’s degree in Statistics, Mathematics, Analytics, or related field preferred.
• Certified Employee Benefit Specialist (CEBS) and Project Management certification is preferred.
• Advanced knowledge and understanding of Defined Benefit principles and legislation.
• Demonstrated mathematical, technical, analytical, critical thinking, problem-solving, and project management knowledge and experience.
• Experience with technical documentation and interpreting requirements.
• Ability to accurately translate technical tasks and requirements to be easily digestible for system end users.
• Excellent written, verbal, and non-verbal communication skills, with the ability to collaborate effectively with peers, team leads, leadership, as well as internal and external stakeholders.
• Must have strong organizational and time-management skills with the ability to manage competing priorities with attention to detail, productivity, and quality.

Personal Characteristics

• A passionate commitment to the Mission, Vision, and Core Values of the SEIU Healthcare IL Benefit Funds.
• Sense of grace and humor in the face of challenges.
• Awareness of social movements, labor movements, and political issues that impact the organization and the work that we do.
• Demonstrated sense of accountability with the ability to work independently, manage up, laterally, and work collaboratively with all levels and across the organization.
• A high level of self-awareness and self-mastery when interacting with others.
• An exceptional team spirit and positive attitude, along with a high degree of integrity and judgment to earn and keep team confidence and morale.

Technical Experience

• Intermediate to advanced user of benefits administration software, Basys/Bridgeway preferred.
• Intermediate to advanced skill level using Microsoft Office Suite (Word, Excel, Outlook, Access and Power Point) including the use Excel pivot tables and formulas.
• Experience with reporting and dashboard tools (Smartsheet or other project management tools)
• Experience working in a hybrid work environment, using a variety of virtual conference platforms to support and demonstrate collaboration and high productivity levels.
• Written and verbal fluency in Spanish and/or Polish is a plus.

Privacy and Security Responsibilities

This position requires employees to manage and maintain Personal Identifiable Information (PII) and potentially Protected Health Information (PHI) for our members. You will be responsible and accountable for maintaining the confidentiality, integrity, and availability of all PII and PHI. Report any suspected identity or HIPAA violation or breach to our HIPAA Privacy and Security Officer.

Career Development & Continuing Education Opportunities: Yes

Benefits

SEIU Healthcare IL Benefit Funds offers competitive compensation and comprehensive benefits package which includes health coverage (medical, dental and vision) for employees and eligible dependents, including a no premium option for employee only; generous time off; and a defined benefit pension plan.

The SEIU Healthcare IL Benefit Funds vision is to create a more just and equitable society that fosters a lifetime of quality healthcare and financial security for all. We hope that our social justice values and the responsibility we take to operate a socially conscious organization align with your professional desire to contribute and serve with purpose.

Diversity, Equity & Inclusion creates a healthier atmosphere: SEIU Healthcare IL Benefit Funds is an Equal Employment Opportunity / Affirmative Action employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, protected veteran status, disability status, sexual orientation, gender identity or expression, marital status, genetic information, or any other characteristic protected by law.