Summary
This position reports directly to the Weymouth Retirement Board. Responsible for the daily operation of the Weymouth Retirement Board’s office in conformity with Massachusetts General Laws Chapter 32, Public Employee Retirement Administration Commission (PERAC) regulations and the Weymouth Retirement Board’s policies, procedures and regulations.
They must possess excellent oral and written communication skills to effectively explain retirement law complexities and strategies to the retirement system membership and to interact with the system’s various investment managers, investment consultant, actuary and other financial institutions to assure the accuracy of the system’s financial reporting.
Education/Experience:
Bachelor of Science Degree in accounting or business-related discipline from an accredited 4-year college or university plus a minimum of 4 years related experience. Experienced in the use of Microsoft Office applications, creation of spreadsheets, business correspondence and the use of retirement software products such as PTG.
Salary Range
$120,000 - $135,000 Commensurate with experience.
Purpose of the Position
- To manage the general day to day operations of the Weymouth Retirement System and to assist the Weymouth Retirement Board’s investment of assets and administration of retirement benefits, consistent with the policies and mandates of the Weymouth Retirement Board, pursuant to Massachusetts General Laws Chapter 32, and the Rules and Regulations promulgated by the Public Employee Retirement Administration Commission.
II. Essential Functions and Responsibilities
- The Administrator is expected to perform, or to oversee the performance of the following duties. This listing is not all inclusive and may be amended from time to time by the Board. In conjunction with the following, the Administrator is required to interact closely with the Board’s investment advisor, actuary, legal counsel and other professionals and employees of the Board, in conducting the day to day business of the Weymouth Retirement System and in reviewing and preparing matters for presentation to the Board.
- Board Meetings: Attends board meetings; ensures proper posting of notice of Board meetings, assembles all information and documents pertaining to board meetings for each board member; notifies investment managers and members of board meetings where applicable; records minutes of board meetings; records all disability hearings; keeps a record of all meetings in a bound minute book; ensures implementation of all decisions and actions of the Board; assembles disability files for hearing.
- Accounting: Oversees the preparation and maintenance of all financial records, including the general ledger, cash receipts, cash disbursements, journal and trial balance, preparation of retiree payroll and sending of retiree checks, preparation on an annual basis of the Pension Fund appropriation data as requested by PERAC, and oversees the preparation of the Annual Statement and filing thereof with PERAC.
- Member Services: Provides retirement counseling to members and beneficiaries; responsible for keeping an accurate record of each member's account in the Annuity Savings Fund; responsible for preparing transfers to or from other systems; responsible for preparing withdrawals of accounts at termination; responsible for dealing with beneficiaries regarding death benefits; responsible for advising members regarding issues pertaining to retirement; responsible for withholding taxes from withdrawals and transferring same to IRS; responsible for calculating retirement benefits; responsible for preparing an annual statement of each member's account; responsible for providing the necessary information on members as requested by a Domestic Relations Order (and, if required, may need to appear in court); responsible for providing 1099R forms on all withdrawals, refunds and roll-overs; provides counsel to families of deceased members of any retirement benefits; must report and provide to PERAC at year-end complete and accurate membership data for PERAC=s data files.
- Retirees: Responsible for keeping an accurate record of each retiree's account in the Annuity Reserve Fund and the Pension Fund; responsible for transferring accounts from the Annuity Savings to the Annuity Reserve Fund upon retirement; must counsel members at retirement, preparing retirement forms, explaining options at retirement (death benefit for spouse or other beneficiary benefits) and any other concerns pertaining to retirement; furnishing retiree with a statement of his or her account at retirement; providing 1099R's and determining taxable amount of retirement allowance; preparing letter when requested to Social Security; sending annual certificate of eligibility to retirees; counseling family members of deceased retirees of any retirement benefits that may be available; reporting and providing PERAC at year-end with complete and accurate retirement data for PERACs data files.
- System Make Ups and Buybacks: Responds to member requests for purchase of prior creditable service; prepares calculations for the repayment of funds. Determines the length of repayment plan according to Board policy, and advises member of tax liability and future benefit toward retirement. Maintains monthly and year end schedule for the posting of applicable interest, creditable service, and pay-off dates. Prepares yearly statements for members purchasing creditable service.
III. Other Duties and Responsibilities
- Ensures implementation of Board policy; advises Board regarding pending legislation; receives and returns telephone calls and other correspondence; assists in special projects and mailings; performs and all other duties as assigned by the Board and Chairman. See Exhibit A for a comprehensive listing of duties to be performed by the Retirement Staff.
IV. Supervisory Responsibilities
- Oversees Retirement Board Staff.
V. Knowledge and Skills
- Massachusetts General Laws Chapter 32 and 840 CMR (PERAC Regulations). Social Security and its impact upon public pensions in Massachusetts. TACS/Tyler Computer System. Microsoft Word, Excel, Word Perfect
| Date published: | August 21, 2026 |
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