Plans Analyst - Savings Plans - Utah Retirement Systems

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

Performs a variety of analytical and administrative duties related to the day to day operational functions of the Defined Contribution Department.

REPORTING RELATIONSHIPS

Works under the direct supervision of the Defined Contribution Account Manager.

ESSENTIAL JOB FUNCTIONS AND DUTIES

1. Educates and counsels plan participants, beneficiaries and alternate payees regarding all savings plans, policies, and provisions.
2. Educates plan participants on Tier 2 Hybrid vs. Defined Contribution plan.
3. Analyzes, approves, or makes recommendations for adjustments to payments (i.e., daily prelim and reconciliation of monthly retirement rolls).
4. Researches and determines beneficiaries and processes death related payments.
5. Approves court orders and processes Domestic Relation Orders.
6. Responds to subpoenas and works closely with attorneys, estate representatives, trustees and legal representatives on deaths and Domestic Relation Orders.
7. Approves power of attorney documents submitted for plan participants.
8. Manages and processes DC related changes to the state’s payroll.
9. Assists members with questions regarding the Personal Choice Retirement Accounts (PCRA). Works with Charles Schwab & Co, Inc. as needed to transfer funds due to death, divorce, or required balance maintenance in core funds.
10. Processes exception contracts and calculates amounts available for 457 special catch-ups.
11. Monitors, identifies, and processes excess deferrals.
12. Reviews, approves, or makes recommendations regarding all incoming checks (i.e., rollovers, transfers, loan payoffs, and IRA contributions).
13. Processes transfers to the Defined Benefit Department for purchases and re-deposits.
14. Assists members and manages life insurance policies with Beneficial Financial Group; including policy ownership, conversions, surrenders, agent related concerns and problems.
15. Responds to plan participant inquiries thru the URS Message Center Website.
16. Assists participating employer units by providing information and related materials.  
17. Assists with updates and changes to department forms, letters, literature, policies, and procedures.
18. Assists in training other staff, as assigned.
19. Provides input for new or changing record keeping programs (i.e., mainframe, Image/Case Management, web application).
20. Reviews and processes loan defaults and reinstatements.
21. Processes returned checks.
22. Maintains strict confidentiality.
23. Performs other related duties as required.

Education and Experience

Bachelor’s degree in business administration, finance, or related field; plus, two (2) years of finance, accounting, or experience with retirement savings plans; or an equivalent combination of education and experience. 

Preference will be given to individuals with CFP, CPA, CEBS, CRC, or related certifications.

Preference will be given to those with a working knowledge of the purposes, principles, and theory of investing in retirement related savings plans; retirement laws; IRS and US Treasury codes and regulations; codes, policies and guidelines.

Knowledge, Skills, and Abilities

This list contains knowledge, skills, and abilities that are typically associated with the job. It is not all-inclusive and may vary from position to position:

Required technical skills include the working knowledge and ability of:

• Microsoft Office suite.
• Extensive typing and data entry.

 Required mathematical skills include working knowledge of:

• Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, and periodic payments.
• Apply concepts of basic algebra.
• Investment rates of return.
• Budgeting.
• Related statistical procedures.

 Must possess excellent communication skills:

• Read and interpret policies, procedures, and legal documents, i.e. Domestic Relations Orders, and subpoenas.
• Develop written department policies and procedures.
• Present information and respond to questions from URS members in written and verbal form.
• Create internal memos for business purposes.

 Must have the ability to:

• Follow written and verbal instructions.
• Analyze a variety of retirement related issues and problems and make recommendations.
• Prioritize work.
• Perform within deadlines.
• Maintain effective working relationships with professionals, executives (public and private), department heads, co-workers, and the public.
• Work well in a team environment as well as independently.
• Multi-task by handling a variety of duties in a timely and efficient manner.
• Follow through with assignments.
• Deal effectively with stress caused by workload and time deadlines.

 The incumbent must always demonstrate judgment, high integrity, and personal values consistent with the values of URS.

Work Environment

Incumbent performs in a typical office setting with appropriate climate controls. Tasks require a variety of physical activities which do not generally involve muscular strain, but do require activities related to walking, standing, stooping, sitting, reaching, talking, hearing, and seeing. Common eye, hand, finger dexterity required to perform essential functions.