Job 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 the culture of diversity and professionalism in the workplace, and strongly believe that our workforce should reflect our community.
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https://www.surveymonkey.com/r/FM68GFV
Purpose of the Job:
The Massachusetts State Retirement Board (MSRB) administers a defined benefit retirement plan for eligible employees
of the Commonwealth and certain independent entities.
The Benefits Calculation Analyst must accurately review, process and administer to conclusion several types of survivor
benefit requests on behalf of active and deceased members of the State Employees' Retirement System, and their
beneficiaries. By demonstrating satisfactory success in this position, a candidate may then be given additional
responsibilities within the MSRB.
Essential Functions and Responsibilities:
- Develop thorough understanding and technical knowledge of several types of benefit requests and related eligibility criteria under retirement plan rules;
- Provide appropriate phone and in-person counseling to answer member and beneficiary inquiries;
- Learn the day to day operations of the survivor Benefit Department, Retirement Options, Annuity Refund and post death payments
- Analyze and send appropriate correspondence to the appropriate parties to reconcile active member and retiree accounts.
- Prepare cases for initiation of survivor benefits related to active and retired members.
- With training prepare member cases for presentation to the Board for accidental death survivor benefits, beneficiary determination, or member account disbursement.
- Develop skills to understand and calculate creditable service and relationship to retirement benefits;
- Conduct research to identify Administrators, Personal Representatives and financial institutions (Banks or Credit Unions) to recover payments.
- Recoup overpayments made to retirees/survivors.
- Make deposits and prepare receipt vouchers for remittance to the Treasury.
- Verify salaries and service histories with various state agencies and local retirement boards;
- Develop skills necessary to integrate and become proficient with OnBase ECM (document scanning) software to successfully process member survivor benefit or disbursement requests and other types of system transactions.
Supervisory Responsibilities:
- N/A
Qualifications
Knowledge and Skills:
- Candidates with an associates degree will be given preferred consideration, provided they meet the other
qualifications outlined for the position. - One to three years of experience in the field of employee benefits, payroll processing, or finance
- Excellent mathematical skills
- Analytical, focused, highly organized and detail oriented
- Demonstration of high level of customer service skills and ability to perform in an environment with high case volume
- Ability to develop working knowledge of retirement plan rules under Mass General Laws Chapter 32, Board regulations, and policies.
- Ability to develop skills to utilize MARIS benefit calculation software.
- Expertise in using spreadsheets and word-processing software
- Intermediate Excel skills
- Self-motivated and ability to remain focused on tasks through completion with the ability to adhere to regular processing deadlines
- Able to work independently and as part of a team
- Experience in retirement or related employee benefit fields preferred
- Self-motivated and ability to remain focused on tasks through completion with the ability to adhere to strict processing deadlines
Physical Requirements:
- Ability to lift up to 10Ibs
- Ability to sit for extended periods of time
Hybrid Work Environment:
All new hires at the Office of the State Treasurer and Receiver General (Treasury) will go through an In-Office Orientation Period consisting of a combination of virtual, in-person and on-the-job training so as to assimilate you to the Treasury's culture and work environment. Following the initial In-Office Orientation Period a gradual transition to hybrid work will take place over the first 3-8 weeks of employment.
The hybrid work environment will consist of at least two (2) days in the office each week, with one of these days being either a Monday or a Friday. There will be an additional (1) day in the office per month for a mandatory in person department meeting.