DEFERRED COMPENSATION PLAN ANALYST - 6856000
Springfield, IL, US, 62702-3397
Agency: Teachers' Retirement System of the State of Illinois
Closing Date/Time:
Salary: $4,750 - $6,080 Monthly
Job Type: Salaried Full Time
County: Sangamon
Number of Vacancies: 1
****************A RESUME IS REQUIRED FOR THIS JOB POSTING****************
Please attach a DETAILED Resume/Curriculum Vitae (CV) to the MY DOCUMENTS section of your application. You WILL NOT be considered for the position if you attach a CMS100, CMS100b or any other document that is not a Resume or CV.
Position Overview
Under the supervision of the Deferred Compensation Manager, the Deferred Compensation (DC) Plan Analyst assists with the efficient and effective operation of the TRS Supplemental Savings Plan (SSP), including monitoring daily interfaces between the recordkeeper, TRS, and employers. The DC Plan Analyst also assists in monitoring the recordkeeper service level agreements and performs routine reconciliation functions to ensure employers, the plan recordkeeper and TRS data is in sync. This position also serves as an educational resource for employers, plan participants, and retirees on plan structure and procedures.
Job Responsibilities
- Analyze and research member records and reports in order to reconcile deferral reports, work with vendor and employers on corrective actions needed and respond to participant inquiries. Thorough knowledge of 457(b) or other tax-advantaged retirement plans. Explain, orally and through written correspondence, 457(b) enrollment, contribution and other procedures to members, employers and co-workers.
- Analyze large volumes of data from multiple sources and reconcile employer, plan and recordkeeper data as required.
- Assist employers with plan questions and resolving reporting issues.
- Review submitted employer and vendor daily demographic and deferral files and ensure daily summary payments to the recordkeeper are processed.
- Gather and analyze data for Board reports, audits, and the DC Oversight Committee as required.
- Maintain an understanding of statutory requirements, the TRS SSP Plan document, policies, and procedures.
(Job Responsibilities continued)
- Assist with the unforeseen emergency financial withdrawal and review process.
- Assist the TRS Legal Department with the QILDRO review and transmittal process.
- Assist the Deferred Compensation Manager with monitoring recordkeeper service level agreements for compliance.
- Research and audit accounts and processes to ensure compliance with requirements.
- Assist the Deferred Compensation Manager with review of quarterly vendor reports and analysis.
- Collaborate with management and third parties in developing recommendations to resolve complex plan issues.
- Ensure participant and employer issues are resolved timely; Organize and track these issues for future reference.
- Participate in training and educational opportunities for ongoing professional development.
- Perform other duties as needed or assigned.
Minimum Requirements
- Bachelor’s degree in business, accounting or public administration OR five (5) years related experience in public/multi-employer pension, private pension plan, benefit administration or related experience in lieu of a degree.
- Two (2) years of responsible administration experience in public or business organization preferred.
- Defined contribution/Deferred compensation plan experience preferred.
Work Hours: Mon - Fri, 8:30 am - 4:40 pm
Work Location: 2815 W. Washington St., Springfield, IL 62702-3397
Agency Contact: MKissel@trsil.org
Job Family: Fiscal/Finance/Business
TRS provides retirement benefits for teachers who are employed by all Illinois public common and charter school districts located outside the city of Chicago. The Illinois Pension Code contains the laws relating to our creation, benefits, and administration.
The main form of communication will be through email. Please check your “junk mail”, “spam”, or “other” folder for communication(s) regarding any submitted application(s). You may receive emails from the following addresses:
- donotreply@SIL-P1.ns2cloud.com
- systems@SIL-P1.ns2cloud.com