Retirement Processor

Performs a variety of technical duties to deliver day-to-day services of the Defined Benefit Retirement Department. Computes lifetime benefit payments for all Utah Retirement Systems (URS) and the Utah Governors and Legislators Retirement Plans.

• Reviews retirement paperwork and compares the information received from the members and the employer(s) to determine eligibility for retirement.
• Analyzes and determines creditable service and salary from available employment records and assures credited service complies with rights accrued under Title 49.
• Examines compensation, detects discrepancies, and determines eligibility through obtaining and analyzing the employer compensation policy and Title 49. Requests refunds when compensation is deemed ineligible.
• Performs research of individual records to verify eligible compensation, service eligibility, previous refunds, re-deposits, and related activity.
• Reviews and audits team members’ work for accuracy and suggests corrections when necessary.
• Calculates and enters transactions to complete the calculation of salary and service, which involves transferring contributions to the general ledger and combining service credit from more than one system. Sets up payment of actual benefits, verifies input for benefit calculations, reviews payment setups, and releases records for payments.
• Reconciles monthly retirement benefits.
• Analyzes, determines eligibility, and computes actual cost for service purchases, re-deposits, and adjustments as requested by members. Provides explanations, including information on installment payments and rollovers from qualified plans.
• Generates correspondence requesting or providing information to/from members and employers as needed to expedite the processing of various account actions.
• Achieves productivity and quality guidelines established by department standards.
• Performs monthly audits on completed retirement payments to ensure account accuracy and identifies additional training needs of team members.
• Maintains regular and reliable attendance.
• Maintains strict confidentiality.
• Performs other related duties as required.

High School diploma and two (2) years of progressively responsible experience in a related field or bookkeeping; or an equivalent combination of education and experience.