Job description
Retirement Coordinator-
Concord Retirement System
Department: Concord Retirement Board
Salary Grade: Commensurate with experience
Reports To: Executive Director
FLSA Status: Non-Exempt
General Summary:
Under the supervision of the Executive Director, the Retirement Coordinator will assist in the administration and operation of the Retirement System in compliance with the provisions of Massachusetts General Law, Chapter 32, S. 1-106, State Regulations and Board Policy. Provide excellent customer service. Responsible for account maintenance for active members including new member enrollments, buybacks and transfers. Performs a variety of financial reporting and related accounting functions to ensure compliance and conformance with established policies procedures of the Board and MGL Chapter 32.
Essential Job Functions:
External and internal applicants, as well as position incumbents who are or become disabled as defined under the Americans With Disabilities Act,must be able to perform the essential job functions (as listed) either unaided or with the assistance of a reasonable accommodation to be determined by management on a case-by-case basis.
- Communication/ Analysis
- Communication with members and/or member units to assist in processing or resolving problems.
- Communicating with members and town treasurer in response to inquiries arising from the issuance of member statements, enrollment of new or reinstated members and beneficiary issues.
- Performs audits of town, school and housing authority payroll reports to verify compliance with MGL Chapter 32.
- Prepare and assist members with new enrollments, information changes and other membership activities.
- Assists with and prepares agenda and materials/reports for monthly Board Meetings.
- Account Maintenance
- Establishes new records and maintains new member accounts.
- Makes data changes and corrections for active and retired member accounts.
- Enrolls new members in the database.
- Confirmation of deduction rates and membership qualifications.
- Entry of all monthly member deductions.
- Reconciles errors in member accounts by processing the return of funds received in error and the collection of funds omitted in error.
- Maintenance of member beneficiary records.
- Maintenance of Excel forms and spreadsheets.
- Performs account research.
- Prepares monthly reconciliation of supplementary schedule to financial statements.
- Prepares members’ Annual Statements.
- Prepares deposits and posts cash receipts.
- Member services
- Preparation and recording of retiree affidavit/attestation forms.
- Explains retirement benefits and options.
- Provides retirement calculation estimates to members upon request.
- Provides membership services to the active members, retirees and beneficiaries of the system, implementing the provisions of MGL Chapter 32: Public Employee Retirement Commission (PERAC) regulations and the retirement board policies.
- Prepares calculations as prescribed by PERAC for repayment of funds.
- Prepares and issues veteran buyback notifications.
- Prepares calculations as prescribed by PERAC for repayment of military buyback funds
- Prepares yearly statements for members purchasing prior service.
- Explains retirement benefits and options, health/life insurance and federal tax withholding to future retirees and their spouses.
- Provides retirement calculation estimates to members upon request.
- Counsels active members and retirees of their rights under MGL Chapter 32 and PERAC Regulations.
- Performs general office work: answers phones, distributes mail, drafts correspondence, orders office supplies, and acts as a go-to for general office help.
- Corresponds with various Retirement Systems as needed.
- Accounting
- Provides and prepares year-end 1099’s for distribution to the vendors and IRS.
- Prepares W-2’s for distribution to employees and IRS.
- Prepares monthly reconciliation of supplementary schedule to financial statements.
- Provides and prepares year-end reconciliation of supplementary schedule including member deposits, buybacks and transfers.
- Issues monthly refunds, rollovers and transfers to other retirement systems.
- Compiles the appropriation data questionnaire for assessment calculations.
- Provides and prepares monthly, quarterly and year-end tax deposits and federal tax reports.
- Prepares members’ Annual Statements.
- Performs other related duties as required, directed or as the situation dictates.
- Regular attendance at the workplace is required.
Supervisory Responsibility:
None.
Education, Experience & Special Requirements:
- A Bachelor’s degree in Business Administration is preferred or 3-5 years of equivalent experience. The candidate should have a strong finance, math and software/customer service background. Previous Chapter 32 experience preferred.
- Must have the ability to travel within the state.
Knowledge, Skills & Abilities:
- Ability to communicate effectively and professionally with the public; well-developed written communications skills; the ability to communicate complex information concisely and effectively in person or via telephone.
- Strong mathematical, organizational and problem-solving skills with strong attention to detail.
- Ability to understand and interpret retirement laws and regulations.
- Ability to follow instructions and function both independently and as a member of a team.
- Ability to keep complex records and to prepare periodic reports from such records.
- Ability to establish and maintain effective and congenial working relationships with the membership, employers, other members of the public and retirement staff.
- Proficient in the use of computers, including word processing and spreadsheet software.
- Willingness to travel and attend workshops, training seminars, and conferences to acquire increasing knowledge of evolving retirement laws and issues.
- Flexibility and the ability to prioritize.
Working Conditions & Physical Demands:
External and internal applicants, as well as position incumbents who are or become disabled as defined under the Americans With Disabilities Act, must be able to perform the physical demands (as listed) either unaided or with the assistance of a reasonable accommodation to be determined by management on a case-by-case basis.
Normal office environment, not subject to extreme variations of temperature, noise, odors, etc. Majority of work is performed in a moderately noisy work environment, with constant interruptions. Frequently subjected to the demands of other individuals and the volume and /or rapidity with which tasks must be accomplished.
Operates computer, calculator, telephone, copier, camera, measuring devices and other standard office equipment requiring eye-hand coordination and finger dexterity. Balancing, crouching, grasping, pulling, reaching and stooping may also be required.
The above statements are intended to describe the general nature and level of work being performed by people assigned to do this job.The above is not intended to be an exhaustive list of all responsibilities and duties required. The omission of specific statements of duties does not exclude them from the position if the work is similar, related, or a logical assignment to the position.
This job description does not constitute an employment agreement between the employer and employee, and is subject to change by the employer, as the needs of the employer and requirements of the job change.
| Date published: | January 16, 2025 |
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