Retirement Benefits Specialist

Essential Job Statements

• Demonstrates fiscal responsibility and accountability in use of VCUHS resources through the biweekly and monthly reconciliation of contributions and additional deductions for employee's payroll. Responsible for accurate recordkeeping of employees on leave of absence, market adjustments and status changes within benefit status on a weekly basis.

• Serves as a liaison between vendors and employees by responding to eligibility and account concerns. Acquires and distributes relevant information and documentation to plan participants and beneficiaries. Maintains excellent working relationship with retirement plan vendors.

• Provides accurate and timely reconciliation for active VRS participants on the schedule set by VRS for monies in excess of $3,000,000 annually. Research discrepancies and other inquiries. Makes necessary adjustments. Monitors salary changes, terminations, promotions, and demotions. Acts as the liaison with VRS, Virginia Department of Accounts, Virginia Department of Human Resources Management and Payroll Services

• Requests checks and wire transfers for retirement payments and reconciles data for two distinct vendors before processing on both biweekly and monthly payroll processing cycles. Liaising with Finance to provide verified and compiled data for the administration of benefits. Serves as verification for wire transfer process.

• Provides daily administration of the various defined contribution plans (retirement and deferred compensation) by providing education, counseling, and consulting services to employees. Coordinates member contributions, distributions, withdrawals, and transfers to and from retirement accounts.

• Works with vendors on employee enrollment, changes, and terminations.

• Ensures timely and accurate forfeiture of terminated members' plan accounts. Assists employees and families with retirement issues including, hardship withdrawals, death claims, distributions, and other account issues. Counsel employees regarding the impact that work status changes would have on their benefits.

• Administer unforeseen emergency withdrawal process by developing and initiating documentation, counseling employees on the process and maintaining records.

• Conducts retirement and benefits-related calculations and analysis including withdrawal of contributions and deferred retirement and provides service purchase calculations for VRS participants.

• Provides team support and direction during the open enrollment planning, implementation, and evaluation. Assists with developing all written and oral communications, including enrollment forms, booklets.

• Performs other duties as assigned and/or participates in special projects in order to support the mission of VCUHS and the Department. Provides assistance to team members. Accepts alternate assignments, as required, graciously.

Patient Population

Not applicable to this position.

Employment Qualifications:

Education Qualifications

Required Education:

Bachelor's Degree in Human Resources, Business Administration or related field, or related professional experience.

Combination of education and experience accepted in lieu of a degree.

Preferred Education:

Bachelor's Degree in Human Resources, Business Administration or related field.

Licensure/Certification Required:

N/A

Licensure/Certification Preferred:

Certified Employee Benefits Specialist (CEBS), Preferred

Minimum Qualifications

Years and Type of Required Experience:

Five years of retirement plan administration experience, to include the management of non-ERISA and/or multi-employer retirement plans for large employee populations.

Other Knowledge, Skills and Abilities Required:

Ability to read and comprehend complex instructions, correspondence, and memos.

Ability to effectively present information in one-on-one and large group situations to customers, clients, and other employees of the organization.

Ability to effectively write plans, policies and documents that may incorporate appropriate legal terminology.

Ability to apply common sense understanding to carry out detailed and involved written or oral instructions. Ability to deal with abstract concepts, shifting variables and inconsistent situations.

Cultural Responsiveness

Demonstrate a commitment to diversity, equity, and inclusion through continuous development, modeling inclusive behaviors, and proactively managing bias.

Working Conditions:

General Office Environment

Prolonged periods of working alone

Physical Requirements:

Lifting/ Carrying (0-50 lbs.) - 1-33% of the time

Sitting, Walking, Standing - 1-33% of the time

Repetitive hand / arm motions

Mental/Sensory - Emotional

Mental/Sensory: Reasoning, Problem Solving, Hearing, Speak Clearly, Write Legibly, Reading, Logical Thinking

Emotional: Steady Pace, Able to Handle Multiple Priorities

EEO Employer/Disabled/Protected Veteran/41 CFR 60-1.4.