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RETRMNT SYSTM BNFTS TECH II
Career Insights for Compensation / Benefits Specialist
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Scorecard
Based on Illinois data
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What they do
A Compensation or Benefits Specialist evaluates and works to maintain the pay structure and benefits program at an organization. Analyzes wage and salary data and trends, monitors market conditions; works with benefits vendors, processes benefit claims for employees; monitors government employment regulations. May focus specifically on job classifications and compensation or on benefits programs such as pensions.
$65,625 / year median in Illinois
-1% projected decline
Job Description
at State Employee Retirement System in Springfield, Illinois, United States Job Description Essential Functions Under general supervision, obtains, reviews, and verifies benefit applications, agency certifications, birth and death certificates, and Social Security information to determine eligibility for retirement, survivors, widows, occupational and non-occupational death or death benefits after retirement pursuant to the statutes governing the State Employees' Retirement System.  Applies eligibility requirements to all distinct employment groups and special formulas within the statutes, rules, regulations, policies, and procedures in effect at the time of the individual's employment. Determines eligibility for benefit payment, in conjunction with the section supervisor, in cases not specifically covered by statutes or rules. Calculates and/or verifies calculations for numerous types of retirement, death benefits, and disability benefits pursuant to the Illinois State statutes. Applies benefit calculation requirements to all pension, death, survivor, disability, COLA , and Total buyouts and QILDRO payments. Calculates final average compensation. Computes and verifies service credit, including service purchases, regular and permissive service. Applies optional benefits to pensions including level income, reversionary, Social Security offset removal. Reviews, interprets, and applies offsets to survivor and death benefits from information received by the Social Security Administration and Worker's Compensation. Calculates and verifies atypical benefits. Corresponds, exchanges, and certifies information with twelve other public retirement systems in the State of Illinois regarding the coordination and calculation of retirement and death benefits between systems. Certifies and exchanges employment service and earnings information with other public retirement systems. Verifies reciprocal retirement and death calculations. Calculates retirement and death benefits pursuant to the Retirement Systems' Reciprocal Act. Attends the annual Reciprocal Training Conference to review new developments with other retirement systems. Communicates with internal accounting staff and external agency payroll and/or retirement coordinators to obtain payroll and employment data. Provides guidance and assistanc To view full details and how to apply, please login or create a Job Seeker account
Benefits
- Dental Insurance