Calculation Analyst Job Boston area,Massachusetts USA,Finance & Banking

Position: Benefits Calculation Analyst

An Official website of the Commonwealth of Massachusetts

Job Description - Benefits Calculation Analyst (260006XD)

Job Description

Benefits Calculation Analyst - ( 260006XD )

Description

About the Office of the Massachusetts State Treasurer and Receiver General (“Treasury”)

Our mission is to manage and safeguard the State's public deposits and investments through sound business practices for the exclusive benefits of our citizens, and perform these duties with integrity, excellence, and leadership. Additionally, we strive to provide economic opportunity, stability, and security for every Massachusetts resident.

We are committed to excellence in recruiting, hiring, and retaining diverse and qualified individuals. We value a culture of diversity and professionalism in the workplace and strongly believe that our workforce should reflect our community.

The Massachusetts Stale Retirement Board (MSRB) administers a defined benefit retirement plan for eligible employees of the Commonwealth and certain independent entities. The MSRB supports over 87,000 active members and 67,000 retirees.

The Benefit Calculation Analyst counsels and provides educational support to members of the State Employees' Retirement System ("MSERS") regarding all aspects of available benefits. The Analyst also manages and processes to conclusion retirement applications and related benefit transactions by performing routine and moderately complex calculations, payment processing, and other operational processes using plan rules and tools used to perform calculations.

Essential Functions and Responsibilities:

Accurately review and process benefit applications to conclusion on a timely basis. for all forms of retirement benefits and disbursements and properly apply benefit rules and regulations;

Regularly counsel and provide educational support to MSERS members regarding all aspects of available benefits and related transactions

Analyze, research and input data necessary to properly calculate and determine members' creditable service, salaries and related information.

Respond promptly and accurately to all internal and external member requests in a professional and service friendly
manner.

Actively remain current with changes to plan rules and possess ability to explain provisions to members.

Approve and adjust benefit calculations with regard to worker's compensation, offset settlements, retroactive salary increases, service modifications, group classifications, domestic relations orders. survivor benefits, and individual situations as they arise;

Assist in preparation of monthly Board meeting agenda;

Develop proficiency with OnBase ECM (document scanning) System and demonstrate ability to integrate with daily responsibilities:

Attend retirement seminars and health fairs for groups of retirement system members, explaining retirement rights and benefits.

Adhere to Treasury and Board human resource and operational policies.

Ensure high quality and quantity of work within established deadlines

Develop skill necessary to understand plan rules related to service purchase requests, refund/rollover requests, survivor benefit requests:

Other

Duties and Responsibilities:

Assist other Retirement Board departments as necessary

Develop working knowledge of MARIS computer system

Travel as required.

Supervisory Responsibilities:

None

Qualifications

Knowledge and

Skills:

Candidates with an associates degree or higher will be given preferred consideration, provided they meet the other qualifications outlined for the position
Excellent communication, inter-personal and organizational skills are required.
Minimum of three years of experience in the field of Massachusetts public employee retirement benefits or comparable field, including all forms of benefit…