Job Posting: Peabody Retirement Board

Peabody Contributory Retirement System
Pension Administrator

Summary of Responsibilities:
The Pension Administrator reports to the to the five-member Peabody Retirement Board and works under the authority of the Board.  The Administrator is to provide successful leadership and management of the day-to-day obligations and operation of the Peabody Retirement System and ensures that its operations comply with the requirements of Massachusetts General Law (MGL) Chapter 32; the rules and regulations of the Public Employees Retirement Administration Commission (PERAC) and the policies of the Peabody Retirement Board.  Supervise and coordinate the work for the system which involves financial record keeping, financial compliance and reporting obligations.  Liaison between the Retirement Board and external accountants, auditors, actuary, investment advisors, attorneys, custodial and consultant personnel.  Works cooperatively with City Departments and other Massachusetts retirement systems.  Responds to questions, research and resolve retirement issues.  Serves as Public Records Officer for the retirement system.

Financial and Accounting:
• Prepare Annual Financial Statement for Board approval and submission to PERAC.
• Provides annual data to actuary, auditors, and PERAC.
• Prepare the annual budget.
• Prepare and reconcile monthly financial reports to include general ledger, cash receipts, cash disbursements adjustments, trial balance for Board review and approval and submission to PERAC.
• Prepare payment of 3(8)(c) to other systems and reconcile receipt of incoming 3(8)(c)payments.
• Ensure that sound bookkeeping and accounting procedures are compliant with GAAP and PERAC regulations
• Prepare monthly retirement payroll.
• Provide the Board with monthly reports on investments, revenues, and expenditures.
• Preparation of 1099R for retired employees and survivor benefit recipients.
• Responsible for the preparation and filing of all required reports to outside agencies including but not limited to PERAC, Internal Revenue Service and Massachusetts Department of Revenue.

Retirement counseling and claims processing:
• Provide retirement estimates for members as requested.
• Counsel active members and retired employees on their rights under MGL Chapter 32 and PERAC regulations.
• Manage retirement application process; assures all applications for retirement, dependents and survivors are fully and accurately processed to decision.  
• Assure timely retirement payments and accurate deductions
• Review Domestic Relations Orders (DRO) prior to signature and submission to the Court, ensuring conformity with MGL Chapter 32.
• Review DRO’s received from the Court and calculate offset amounts.
• Review final calculation of benefits on new retirements.
• Enroll retirees and eligible family members in health and insurance

Prepares information for Retirement Board and Meetings:
• Prepare and post Public Notice for all Board meetings.
• Attend Board meetings ensuring Open Meeting Law and PERAC regulations are followed at all official meetings.
• Prepare and distribute the monthly Board Agenda to Board Members.
• Take and transcribe meetings minutes.
• Advisor to the Board on all aspects of the system’s activities.
• Prepare official correspondence on behalf of the Board as appropriate and jointly with the Board when appropriate.

Compliance, RFP’s, legal and other:
• Write, post, receive and review all non-investment Request for Proposals (RFP).
• Initiate all new contracts and work with the Board’s attorney to ensure compliance.
• Review retirement records and files ensuring compliance with established archive retention and destruction procedures of the Commonwealth.
• Works with the Board’s attorney relating to information on current legal issues.
• Any other duties or tasks that are not specifically mentioned in this job description asassigned by the Board.

Recommended Minimum Qualifications:
Bachelor’s degree in Math, Business Administration, Finance, or Accounting plus 5 years of related experience in administration, finance, accounting, or auditing are required or an equivalent combination of education, training and experience. Proficient knowledge of retirement system administration and MGL Chapter 32 is required.  Skilled with commonly used applications in finance and office functions including Word, Excel and Bay State Pension Solutions.

The pension administrator position requires confidentiality, analytical skills, attention to detail and the ability to troubleshoot and resolve matters.  The pension administrator is expected to occasionally work evenings and weekends if deadlines are dictated and will oversee a staff of two full-time employees.  This is a salaried exempt position pursuant to FSLA, and while there are no set hours for this position, The Board’s expectation is that the Administrator will be in the office Monday through Wednesday 8:30 a.m. to 4:00 p.m., Thursday 8:30 a.m. to 7:00 p.m. and Friday 8:30 a.m. to 12:30 p.m.

Candidates for this position will be subject to a background and CORI.

Salary Range: $105,000 - $130,000.00 commensurate with experience and qualifications.

Resume should be submitted by August 22, 2025, 12:00 Noon to:
james.freeman@peabody-ma.gov or
Peabody Retirement Board
Attn: James Freeman
24 Lowell Street
Peabody, MA  01960