Rutgers, The State University of New Jersey is seeking two Pension Benefits Functional Specialists for the Benefits and Wellness team within the department of University Human Resources. his position reports to the Assistant Director of Benefits and Wellness and is responsible for consistently delivering best in class benefit related services to the Rutgers community. The position will deploy specialized knowledge to administer defined benefits, defined contribution, and voluntary savings plans.
Among the key duties of the position are the following:
University Human Resources, subject matter expert for administrative functions tied to the defined benefit and defined contribution pension plans as well as the voluntary savings plans offered.
Liaises with OneSource, Payroll Services, HRIT, the NJ Division of Pensions and Benefits (NJDPB) and pension and savings vendors.
Responsible for vendor coordination of enrollment activity which involves research and reporting to support University & vendor reconciliations, and depositing/returning funds as needed.
Researches and responds to complex inquiries from NJDPB.
Advises OneSource customer service and enrollment representatives (either in person or via email) on the resolution of complex pension and savings related inquiries.
Acts as the employer representative in response to requests from internal and external audits as well as union grievances and arbitrations for members. Perform required research and prepare documentation; appear and/ or testify as necessary.
Serves as a point of contact for escalations relating to vendor file errors.
Performs defined benefit contribution calculations monthly and send payment to the NJDPB in accordance with State deadlines. Process payments for employer liabilities.
Performs audits to ensure plan compliance and communicate corrective actions to be taken by appropriate departments.
Reviews monthly defined benefit program retirements to certify and ensure accurate service time and final salaries.
Responsible for the Deferred Compensation (457) plan file upload, review, and reconciliation with payroll records.
Reviews and reconciles quarterly contribution reports (member pension, life, loans and purchase).
Processes and submits monthly and quarterly wire payments. Coordinate with HRIT regarding manual adjustments to quarterly report and create and submit check requests where needed.
Ensures retirement transactional services are delivered in a consistent and timely manner in accordance with payroll and State deadlines.
Participates in creating and updating the knowledge management system for use by employee self-service as well as customer service representatives for benefits enrollments and related topics.
Identifies process improvement opportunities, leading practices and innovative approaches and tools to increase efficiencies and cost effectiveness across end-to-end UHR retirement processes.
Ensures all relevant procedural and legislative requirements are fulfilled.
Documents and updates pension and savings plan processes and procedures.
Participates in and support ongoing training and development initiatives.
Creates, fosters, and maintains a collaborative, innovative, customer-focused team culture.
Performs related duties as assigned.
Minimum Education and Experience:
Requires a bachelor's degree in a related field from an accredited college or university and/or an equivalent combination of education and experience in Benefits enrollments or related area.
Rutgers, The State University of New Jersey, is a leading national public research university and the state's preeminent, comprehensive public institution of higher education. Rutgers is dedicated to teaching that meets the highest standards of excellence; to conducting research that breaks new ground; and to turning knowledge into solutions for local, national, and global communities. As it was at our founding in 1766, the heart of our mission is preparing students to become productive members of society and good citizens of the world. Rutgers teaches across the full educational spectrum: preschool to precollege; undergraduate to graduate and postdoctoral; and continuing education for professional and personal advancement. Rutgers is New Jersey's land-grant institution and one of the nation's foremost research universities, and as such, we educate, make discoveries, serve as an engine of economic growth, and generate ideas for improving people's lives.