Deadline: Friday, November 11, 2022
THE POSITION OF: Pension Coordinator
This position is responsible for the administration of four (4) pension funds: Officers and Employees Retirement Board; Police Pension Fund; Firemen’s Pension Fund; Aggregated Pension Fund. This position reports to the Human Resource Director and manages the operation of and provides administrative/clerical support to the four pension funds of the City of Reading. Further this position includes frequent contact with other City department personnel and occasional contact with auditors, actuaries, retirees, and employees.
Typical job duties include but are not limited to:
- Maintain semi-monthly and monthly records of salary/wages, pension contributions/payments for all employees and retirees.
- Prepare pension applications for submission to Board for approval.
- Schedule and attend all monthly pension board meetings.
- Prepare minutes and correspondence as required.
- Issue and sign all semi-monthly and monthly pension checks for all four pension systems.
- Maintain pensioners’ files with updates of dependents, addresses, withholding tax changes, marital status, deletions, additions, etc.
- Maintain monthly withholding tax deductions for Federal government reporting.
- Prepare 1099R forms to send to pensioners at year-end for filing purposes.
- Maintain monthly cash journal for cash received and distributed between checking and savings accounts for all four Funds.
- Prepare financial and statistical reports for each pension on a monthly basis.
- Provide Actuaries with needed information.
- Update new hires/resignations/retirements monthly.
- Prepare forms as necessary, including but not limited to MMO calculations and AG calculations.
- Work with and provide information to all State and Federal oversight agencies, including information for audits.
- Able and willing to train in IRC 457(b) Deferred Compensation plans and responsibilities.
- Assist retirees with benefit information including pension and insurance.
- Meet with employees (new and retiring) to explain pension benefits.
- Analyze pension ordinance and state law.
- Perform other related duties as required.
- Bachelor’s degree in Statistics, Economics, or Business and 2 years of financial analyst or related pension work –OR- an Associate’s degree in Statistics, Economics, or Business and 5 years of financial analyst or related pension work.
- Ability to read and understand Federal, State and Local laws and to make changes in procedures as mandated by law.
- Proficient Microsoft Office and Excel skills and solid knowledge of mathematical calculations and statistics required.
- Excellent oral and written communication skills.