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DEFERRED COMPENSATION PLAN ANALYST - 6856000

We continually strive for a workforce that reflects the growing diversity within the State of Illinois. A variety of employee backgrounds, perspectives, ideas and experiences are crucial to our ability to most effectively serve the public. Bilingual skills welcome

Reasonable Accommodation Statement

The State of Illinois is committed to working with and providing reasonable accommodations to people with disabilities. Further, federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities. Please tell us if you require a reasonable accommodation to apply for a job, interview for a job, or for any other activity related to the hiring process. Examples of reasonable accommodation include, but are not limited to, making a change to the application process (if possible), providing documents in an alternate format, using a sign language interpreter, or using specialized equipment.

To be provided a Reasonable Accommodation during the hiring process, you will need to provide a certification of disability from a physician, psychiatrist, school official or an Illinois Department of Human Services (DHS) Division of Rehabilitation Services (DRS) Vocational Rehabilitation (VR) Counselor. Supporting documentation should be uploaded under My Documents → Additional Documents section for each application.

Any questions on Reasonable Accommodations can be directed to Central Management Services Disability Resource Center at CMS.DisabilityResCen@illinois.gov or call (217) 524-7514 for further information and to request or discuss an accommodation.

Sponsorship for Employment

The State of Illinois does not provide sponsorship for employment visa status (e.g. H-1B visa status). To be considered for permanent employment with the State of Illinois, applicants must be currently authorized to work in the United States on a full-time basis.

Disclosure of Salary Information

In compliance with the Illinois Equal Pay Act, 820 ILCS 112/1 et seq., the State does not seek, request, or require a job applicant’s wage or salary history.  Employment decisions are not made based on an applicant’s wage or salary history.  To that end, please do not include wage or salary information in your resume or other profile or application materials.

Date:  Nov 22, 2022
Location: 

Springfield, IL, US, 62702-3397

Job Requisition ID:  21488

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