Definition
Develops and conducts statewide retirement planning seminars and educational workshops (one-on-one or group sessions or via the internet); performs pre and post retirement counseling with members and dependents statewide; determines individual retirement benefit amounts; adjusts benefit amounts based on corrected and updated information; performs related work as required.
Work Examples
- Estimates IPERS benefits payable to members planning retirement from covered employment; analyzes members' accounts by applying current laws, rules, and regulations to ensure all members receive their maximum retirement benefit.
Conducts one-on-one counseling sessions in person, via the internet and via phone in order to compare monthly benefits payable vs. refund possibilities; defines the different monthly retirement benefits options and how they impact both the retiree and beneficiary; examines all correspondence leading to the application of benefits, defines earning limitations after retirement, taxability of the benefit, when warrants are issued; explains current and proposed amendments to the IPERS law.
Develops and conducts statewide retirement planning seminars and educational workshops; anticipates educational needs for member's and incorporate future law changes as they occur; performs statewide speaking engagements and one-on-one counseling sessions in person, via internet and via Iowa Communications Network (ICN).
Applies knowledge of specialized subject matter and techniques utilized in the development and maintenance of the public retirement programs in benefits administration; compensation; appeals; responds to requests from employees, retirees, beneficiaries and contingent annuitants concerning retirement, death benefits, refunds and referrals.
Interprets and applies federal, state, Internal Revenue Service (IRS), and Social Security laws, rules and policies relating to pre and post retirement.
Assists in planning and implementing the goals and objectives of programs and projects; directs special projects as requested; formulates policies, procedures, and guidelines for the concerned area of program responsibility.
Reviews, and interviews job applicants and, recommends selection of applicants.
Assists the Deferred Compensation Administrator in the administration of the Plan by reviewing materials and making recommendations regarding compliance with disclosure requirements; whether investment provider materials meet requirements; and whether requests for hardship distributions, rollovers, and transfers are appropriate.
Competencies Required
- Knowledge of the principles and practices of public retirement administration.
Knowledge of the principles and practices of fiscal planning.
Knowledge of social and economic problems affecting persons of retirement age.
Knowledge of the general principles of economics and their relationship to public employee retirement systems and the federal social security program.
Knowledge of federal, IRS, and state laws and the Iowa code affecting the Iowa Public Employees Retirement System.
Knowledge of the Iowa Public Employees Retirement System.
Knowledge of current principles of effective leadership, including communication, human relation skills, and work planning.
Knowledge of federal regulations regarding deferred compensation programs.
Knowledge of interviewing techniques, practices, and principles.
Ability to interpret and apply pertinent federal and state laws, rules, policies, and procedures relating to preretirement services, refunds, disability compensation, and death benefits.
Ability to interpret annuity and life insurance contracts.
- Ability to collect, analyze and report retirement related data.
Ability to analyze and interpret prospectus, IRS, SEC and Treasury regulations.
- Ability to analyze critical issues, from opinions, and make recommendations with varying time frames.
Displays high standards of ethical conduct. Refrains from dishonest behavior.
Works and communicates with all clients and customers providing polite, quality professional service.
Displays a high level of initiative, effort, attention to detail and commitment by completing assignments efficiently with minimal supervision.
Follows policy, cooperates with supervisors and aligns behavior with the goals of the organization.
Fosters and facilitates cooperation, pride, trust, group identity and team spirit throughout the organization.
- Exchanges information with individuals or groups effectively by listening and responding appropriately.
Education, Experience, and Special Requirements
Graduation from an accredited college or university with a Bachelor’s Degree and three years of full-time experience in job interviewing, referral and/or placement, credit investigation, collection work, financial planning, selling insurance, stocks or bonds, or related public contact work obtaining, analyzing, and/or evaluating data;
OR
an equivalent combination of education and experience substituting one year of the required full-time experience for each 30 semester hours of the required education to a maximum substitution of four years;
OR
employees with current, continuous experience in the state executive branch that includes the equivalent of two years of full-time experience as a Retirement Benefits Officer.
Notes
Travel is required. Employees must arrange transportation to and from assigned work areas.