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Pension and Retirement Specialist

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TriMet

3mo ago

  • Job
    Full-time
    Junior Level
  • People, HR & Administration
    Accounting & Tax

AI generated summary

  • You need a high school diploma (associate degree preferred), 2 years of retirement/pension experience, and a valid Class "C" license from Oregon or Washington.
  • You will explain retirement benefits, conduct calculations, coordinate rollovers, maintain records in Oracle, support audits, manage communications, and assist in employee training and compliance.

Requirements

  • A minimum of a High School Diploma/G.E.D. is required. An Associate's Degree and coursework in accounting is preferred. A minimum of two (2) years of experience are required. Two (2) years of experience with retirement & pension are required. Possession of current/valid Class "C" license issued by Oregon or Washington; ability to pass a driving record check meeting TriMet driving record standards. Or any equivalent combination of experience and training. The amount of credit a candidate receives for prior years of experience is based on the relevancy of that experience to the required or preferred prerequisites of the job description. Experience is prorated based on hours worked. LRHR assigns and validates the "credited experience".

Responsibilities

  • Explains retirement benefit plan policies, procedures to participants and beneficiaries including active, deferred, retired and separated employees.
  • Conducts first-level retirement calculations.
  • Coordinate processing of pension plan rollovers and loans.
  • Assist with creating administrative procedures and assure they align with plan documents. Assist with maintenance, updates and distribution of plan documents, plan summaries, and other communications.
  • Assist with maintaining accurate and updated online information about retirement benefits; scan, respond to inquiries on retirement policy and procedure, domestic relations orders, and other inquiries including, but not limited to payment of pension payments.
  • Support the annual audit through research and accumulation of supporting documentation and other support as needed by the actuaries for annual valuations.
  • Maintain records of participants and beneficiaries including active, deferred, retired, and separated employees master data in Oracle. Work closely with the Benefits Health team to ensure Oracle pension master data aligns.
  • Participates in employee and retiree training & orientations/individual interview with employees regarding retirement and pension options.
  • Ensures retirement plans are administered in accordance with company, state, and federal guidelines and regulations.
  • Generate & oversee weekly, monthly, quarterly reporting and associated communications.

FAQs

Do we support remote work?

This position requires being in the office a minimum of three (3) days per week, so it is not fully remote but follows a hybrid model.

What type of retirement plans will I manage in this role?

You will manage TriMet's two defined benefit pension plans, as well as the defined contribution, 457 Plan, and Other Post-Employment Benefits (OPEB).

What qualifications are needed for this position?

A minimum of a High School Diploma/G.E.D. is required. An Associate's Degree with coursework in accounting is preferred, along with a minimum of two (2) years of experience in retirement and pension.

Is experience with pension and retirement necessary?

Yes, at least two (2) years of experience specifically in retirement and pension are required.

What are the essential job functions of the Pension and Retirement Specialist?

Essential functions include explaining retirement benefit policies, conducting retirement calculations, coordinating pension plan rollovers, maintaining accurate participant records, and ensuring compliance with company and regulatory guidelines.

How is the salary determined for this position?

Salary offers will be determined based on the candidate’s education, training, and relevant experience, falling within a salary range of $58,971.00 to $88,454.00.

What is the selection process for this position?

The selection process includes an application review (with a cover letter and resume), panel interviews, and a reference check.

Are there any preferred qualifications for the position?

While a High School diploma is required, an Associate's Degree and coursework in accounting is preferred.

What should internal applicants know when applying?

Internal applicants should note that information in their personnel file will not replace the information requested on the application, and incomplete applications will not be considered.

Can veterans apply for preference points?

Yes, qualified veterans should reflect their status on the application and attach supporting documentation at the time of application submission.

How life moves.

Transportation
Industry
1001-5000
Employees
1969
Founded Year

Mission & Purpose

Working at TriMet means making connections. We believe providing a safe and reliable ride doesn’t just get people to work, school, shopping or the doctor’s office — it also opens doors to a stronger community and a better future. Our team of more than 3,000 does it all, from driving to fixing to planning, creating and communicating. What connects us is our commitment to making the Portland area a better place to live, through shared values like responsiveness, inclusivity and accountability.