Retirement and Benefits Specialist

Job Summary:

The Retirement and Benefits Specialist will assist employees with selecting a retirement or pension plan and will provide administrative support for those plans to employees, retirees, and beneficiaries.

Supervisory Responsibilities:

Duties/Responsibilities:

• Manages and handles all requests related to the retirement benefit plan policies for the Township’s pension plans, 457(b) plans, and DROP program, as well as the procedures and legal requirements to employees and beneficiaries.
• Conducts retirement and benefits-related calculations and analysis including repurchase of service, withdrawal of contributions, and deferred retirement.
• Researches and recommends appropriate benefits plans and services based on data analysis.
• Conducts group benefits presentations for and/or individual interviews with employees regarding retirement and pension options.
• Acquires and distributes relevant information and documentation to plan participants and beneficiaries.
• Develops and maintains records of participants and beneficiaries including active, deferred, retired, and separated members.
• Serves as a liaison between beneficiaries and participants and the plan administrator, handling or facilitating requests for contribution adjustments, refunds, and other administrative changes.
• Coordinates with actuaries, plan administrators, accountants, and other professionals to provide verified and compiled data for administration of benefits.
• Handles all post-retirement benefits, including post retirement health care, which includes open enrollment for retiree insurance benefits, reimbursements for Medicare contributions or ad hoc premium billing.
• Enters and maintains appropriate payroll deduction amounts in the payroll system for pension deductions, as well as healthcare and other insurance deductions.
• Handles all benefit invoice reconciliation.
• Ensures retirement plans are administered in accordance with company, state, and federal guidelines and regulations.
• Represents the Township on the Pension Committee and responsible for taking the minutes for the meeting.
• Maintains knowledge of legal and regulatory changes, trends, and other developments affecting retirement benefits.
• Performs other duties as assigned.

Required Skills/Abilities:

• Excellent interpersonal skills with ability to clearly explain retirement plan options in easily understood terms.
• Excellent organizational skills and attention to detail.
• Thorough understanding of laws, regulations, and agency interpretations or opinions related to retirement benefits.
• Experience with payroll systems is highly preferred.
• Proficient with Microsoft Office Suite or related software.

Education and Experience:

• Bachelor’s degree in Business Administration, Human Resources, or related field preferred, but not required.
• At least three years of experience with retirement, insurance benefits, and actuarial services required.
• SHRM-CP or SHRM-SCP or similar preferred

Physical Requirements:

• Prolonged periods of sitting at a desk and working on a computer.
• Must be able to lift up to 15 pounds at times.