Benefits Analyst I

Job Summary

Under the supervision of the Benefits Manager, the Benefits Analyst I is responsible for:

• processing and calculating one type of claim (retirement, refund and single sum, APB, disability, or survivor benefit) and calculating the associated recalculations with proficiency, or
• processing and calculating five types of optional service adjustments with proficiency.

The Illinois Pension Code and related administrative rules along with appropriate procedural manuals should be used to accomplish these tasks. This position is responsible for responding to inquiries regarding benefit claims or optional service adjustments and working with the Benefits Manager to accomplish assigned tasks. In addition, this position provides technical and clerical support to the Benefits Department. This position would work in the Retirements, Member Accounts and Refunds, or Survivor and Disability areas.

Job Summary (Continued)

This position is responsible for analyzing, researching, and gathering documents and other information that allow for the accurate and timely processing of benefit claims or optional service adjustments. The incumbent must possess a basic knowledge of the assigned benefit calculations or optional service adjustments and routine rollover information. The incumbent must also be familiar with Article 16 of the Illinois Pension Code as it relates to the assigned benefit claims or optional service adjustments. In addition, the incumbent will assist with mailings, handling telephone inquiries, resolving refund discrepancies and processing of Social Security and divorce estimate requests.

The incumbent must possess organizational skills, excellent analytical skills, and the ability to communicate in a clear and concise manner the provisions of the Pension Code with co-workers and the public both verbally and through written correspondence.

The greatest challenge of this position is to complete large volumes of work at a quick pace, without sacrificing quality.

Essential Functions

• Maintain an understanding of existing statutory requirements, rules and procedures that determine retirement options and benefits.
• Receive requests for income verification letters, publications, specialized forms, and other documents; respond in an accurate and timely manner.
• Use Excel spreadsheets and computerized procedures to calculate benefit claims including age retirement annuities, reversionary, optional service adjustments, and single-sum retirements.
• Analyze and prepare all necessary calculation and benefit information to provide comprehensive and concise information to members.
• Organize refund and single sum, disability, APB, survivor benefits, and/or retirement applications for claim processing as needed.
• Provide technical and clerical support to the benefits department including but not limited to preparing letters for review and approval, mailing, scanning, recording receipt of documents, and reviewing voicemails, emails, and various User Action Request reports.
• Review daily work and determine how work should be distributed throughout the unit including identifying “Rush” requests.
• Calculate one type of claim or five types of optional service adjustments using the appropriate applications for verification by another analyst.
• Contacting employers when necessary to determine excess salary cost and excess sick leave cost billed to employers on retirement claims. Reviewing and analyzing documentation such as contracts, board minutes and salary charts received from employers to make sure calculation, and billing is accurate and ensuring proper documentation is received per Pension Code.

Essential Functions (Continued)

• Reviewing QILDRO court documents to calculate anticipated adjustments on retirement claims.
• Analyze changes, review, and submit claim recalculations, as needed.
• Analyze and submit miscellaneous adjustments, as needed.
• Review, analyze, and interpret homebound documentation, W2 forms, Social Security Itemized Statement of Earnings and other pertinent documentation sent to TRS from the member or their employer with assistance from more senior staff members.
• Analyze and audit member records following the Illinois Pension Code and statutory requirements to determine eligibility for benefits or optional service.
• Respond to inquiries and correspondence received from members and internal staff. Modify standard letters or create customized letters, as needed.
• Review and submit Excess Contribution Refunds and 1% Survivor Benefit Refunds. Follow up with members, school districts, retirement systems, and financial institutions as necessary.
• Analyze and research returned warrants to determine steps needed to ensure the acceptance of transactions to financial institutions. Collaborate with State Comptroller’s office, accounting department, members, and financial institutions to safeguard the acceptance of the funds as n