Survivor Benefits Processor I

Utah Retirement Systems; Salt Lake City (UT); On-site; USD 40,000 - 70,000; Full time

Job summary

An established industry player is seeking a detail-oriented individual to join their Defined Benefit Retirement Department. This role involves analyzing death settlements, processing benefits, and ensuring accurate documentation. You will be responsible for determining eligibility, calculating benefits, and maintaining confidentiality while assisting members and beneficiaries. If you have a passion for helping others and a knack for numbers, this position offers a rewarding opportunity to make a difference in the lives of retirees. Join a supportive team where your contributions will be valued and recognized.

Qualifications

• 2+ years of experience in a related field or bookkeeping.
• Strong analytical skills for benefit calculations.

Responsibilities

• Processes death programs and determines eligibility for benefits.
• Calculates overpayments and initiates collection processes.
• Responds to inquiries regarding retirement benefits.

Skills

Benefit Analysis

Data Entry

Customer Service

Attention to Detail

Education

High School Diploma

Job description

Performs a variety of technical duties to deliver day-to-day services of the Defined Benefit Retirement Department. Analyzes death settlement and determines beneficiary benefits for all Utah Retirement Systems (URS) and the Utah Governors and Legislators Retirement Plans.

Responsibilities

• Processes and reviews death programs and identifies members of the system affected to determine continued eligibility for benefit.
• Enters death dates into the system and processes final benefits to members.
• Compares benefits received against benefits eligible to determine if overpayments have been made. If overpayments have been made, calculates amount due and starts collection process.
• Analyzes and determines death settlement according to creditable service and salary from available employment records and assures credited service complies with rights accrued under Title 49. Computes the determination of benefits payable at death.
• Locates family/beneficiaries for continued or final payments by sending and analyzing Small Estates Affidavits (SEA) and Surviving Heirs forms to establish correct payees.
• Informs beneficiaries in writing of death settlement payable based on Title 49.
• Processes, completes, and assures accuracy of required URS retirement forms. Review and explains forms to initiate final processing of benefits. Obtains various forms of required member documentation and initiates payment process.
• 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 and verifies input for benefit calculations. Reviews payment set-ups and releases records for payments.
• Reconciles monthly retirement benefits.
• Researches returned checks and determines forms to be sent to family or beneficiaries for final payment or cancellation.
• Responds to questions from members, employers, outside agencies, attorneys, and financial planners regarding all facets of retirement. Responds (both verbally and in writing) to inquiries, appointments, and walk-ins in a timely and courteous manner.
• Achieves productivity and quality guidelines established by department standards.
• Maintains regular and reliable attendance.
• Maintains strict confidentiality.
• Performs other related duties as required.

Qualifications

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.