Benefit Calculations Analyst
Job Description
About the Office of the Massachusetts State Treasurer and Receiver General ("Treasury")
Our mission is to manage and safeguard the State's public deposits and investments through sound business practices for the exclusive benefits of our citizens, and perform these duties with integrity, excellence, and leadership. Additionally, we strive to provide economic opportunity, stability, and security for every Massachusetts resident.
We are committed to excellence in recruiting, hiring, and retaining diverse and qualified individuals. We value the culture of diversity and professionalism in the workplace and strongly believe that our workforce should reflect our community.
https://www.surveymonkey.com/r/FM68GFV
Purpose of the Job:
The Massachusetts State Retirement Board (MSRB) administers a defined benefit retirement plan for eligible employees of the Commonwealth and certain independent entities. The MSRB supports over 87,000 active members and 67,000 retirees.
The Benefit Calculation Analyst counsels and provides educational support to members of the State Employees' Retirement System ("MSERS") regarding all aspects of available benefits. The Analyst also manages and processes to conclusion retirement applications and related benefit transactions by performing routine and moderately complex calculations, payment processing, and other operational processes using plan rules and tools used to perform calculations.
Essential Functions and Responsibilities:
- Accurately review and process benefit applications to conclusion on a timely basis, for all forms of retirement benefits and disbursements and properly apply benefit rules and regulations;
- Regularly counsel and provide educational support to MSERS members regarding all aspects of available benefits and related transactions
- Analyze, research and input data necessary to properly calculate and determine members' creditable service, salaries and related information.
- Respond promptly and accurately to all internal and external member requests in a professional and service friendly
- Actively remain current with changes to plan rules and possess ability to explain provisions to members.
- Approve and adjust benefit calculations with regard to worker's compensation, offset settlements, retroactive salary increases, service modifications, group classifications, domestic relations orders, survivor benefits, and individual situations as they arise;
- Assist in preparation of monthly Board meeting agenda;
- Develop proficiency with OnBase ECM (document scanning) System and demonstrate ability to integrate with daily responsibilities;
- Attend retirement seminars and health fairs for groups of retirement system members, explaining retirement rights and benefits. Travel as required;
Adhere to Treasury and Board human resource and operational policies. - Ensure high quality and quantity of work within established deadlines
- Develop skill necessary to understand plan rules related to service purchase requests, refund / rollover requests, survivor benefit requests;
Other Duties and Responsibilities:
- Assist other Retirement Board departments as necessary
- Develop working knowledge of MARIS computer system
- Travel as required
Supervisory Responsibilities:
- None
Qualifications
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Knowledge and Skills:
- Candidates with an associate's degree or higher will be given preferred consideration, provided they meet the other qualifications outlined for the position
- Excellent communication, inter-personal and organizational skills are required
- Minimum of three years of experience in the field of Massachusetts public employee retirement benefits or comparable field, including all forms of benefit calculations, disbursements, payroll administration, and/or human resources.
- Knowledge of retirement industry in general and related benefits
- Strong math skills
- Ability to develop detailed knowledge of plan rules under M.G.L. c.32
Ability to manage high volume caseload against established operational deadlines - Develop skills to conduct retirement seminars to groups of state employees explaining retirement benefits. Travel as required.
- Ability to work flexible schedule
- Currently proficient in Microsoft Word, Excel, Windows
- Familiarity or prior experience working with electronic document management systems
Physical Requirements:
- Ability to lift up to 10lbs
- Ability to sit for extended periods of time
Hybrid Work Environment:
All new hires at the Office of the State Treasurer and Receiver General (Treasury) will go through an In-Office Orientation Period consisting of a combination of virtual, in-person and on-the-job training so as to assimilate you to the Treasury's culture and work environment. Following the initial In-Office Orientation Period a gradual transition to hybrid work will take place over the first 3-8 weeks of employment.
The hybrid work environment will consist of a minimum of two (2) days in the office each week, with one of these days being either a Monday or a Friday. Hybrid work arrangement is based on business needs of the department. There will be an additional (1) day in the office per month for a mandatory in person department meeting.
An Equal Opportunity Employer:
The Office of the State Treasurer and Receiver General is an Equal Opportunity Employer and does not discriminate on the basis of race, religion, color, sex, gender identity or expression, sexual orientation, age, disability, national origin, veteran status, or any other basis covered by appropriate law.
Employment Eligibility Regarding Family Members:
Please note that the Office of the State Treasurer and Receiver General will not consider family members of current employees as eligible for employment. Family members shall include an employee's spouse, brother, sister, children, stepchildren, parents, stepparents, sister/brother-in-law, daughter/son-in-law or an individual residing in an employee's household.
Perks and Benefits
Health and Wellness
- Health Insurance
- Health Reimbursement Account
- Dental Insurance
- Vision Insurance
- Life Insurance
- Short-Term Disability
- Long-Term Disability
- FSA
- HSA
- Mental Health Benefits
Parental Benefits
- Adoption Assistance Program
- Family Support Resources
Work Flexibility
- Flexible Work Hours
- Hybrid Work Opportunities
Office Life and Perks
- Commuter Benefits Program
Vacation and Time Off
- Paid Vacation
- Paid Holidays
- Personal/Sick Days
- Volunteer Time Off
Financial and Retirement
- Pension
- Financial Counseling
Professional Development
- Promote From Within
- Mentor Program
- Access to Online Courses
- Lunch and Learns
- Internship Program
- Leadership Training Program
- Associate or Rotational Training Program
Diversity and Inclusion
- Diversity, Equity, and Inclusion Program