Benefits Calculation Analyst - Survivor Benefits

About the Office of the Massachusetts State Treasurer and Receiver General (“Treasury”)

Our mission is to manage and safeguard the State's public deposits and investments through sound business practices for the exclusive benefits of our citizens, and perform these duties with integrity, excellence, and leadership. Additionally, we strive to provide economic opportunity, stability, and security for every Massachusetts resident.

We are committed to excellence in recruiting, hiring, and retaining diverse and qualified individuals. We value a culture of diversity and professionalism in the workplace and strongly believe that our workforce should reflect our community. 

https://www.surveymonkey.com/r/FM68GFV

Purpose of the Job: 

The Massachusetts State Retirement Board (MSRB) administers a defined benefit retirement plan for eligible employees of the Commonwealth and certain independent entities. 

The Benefits Calculation Analyst must accurately review, process and administer to conclusion several types of survivor benefit requests on behalf of active and deceased members of the State Employees' Retirement System, and their beneficiaries. By demonstrating satisfactory success in this position, a candidate may then be given additional responsibilities within the MSRB.

Essential Functions and Responsibilities: 

• Develop thorough understanding and technical knowledge of several types of benefit requests and related eligibility criteria under retirement plan rules; 

• Provide appropriate phone and in-person counseling to answer member and beneficiary inquiries; 

• Learn the day-to-day operations of the survivor Benefit Department, Retirement Options, Annuity Refund and post death payments 

• Analyze and send appropriate correspondence to the appropriate parties to reconcile active member and retiree accounts. 

• Prepare cases for initiation of survivor benefits related to active and retired members. 

• With training prepare member cases for presentation to the Board for accidental death survivor benefits, beneficiary determination, or member account disbursement.

• Develop skills to understand and calculate creditable service and relationship to retirement benefits;

• Conduct research to identify Administrators, personal Representatives and financial institutions (Banks or Credit Unions) to recover payments.

• Recoup overpayments made to retirees/survivors.

• Make deposits and prepare receipt vouchers for remittance to the Treasury.

• Verify salaries and service histories with various state agencies and local retirement boards;

• Develop skills necessary to integrate and become proficient with OnBase ECM (document scanning) software to successfully process member survivor benefit or disbursement requests and other types of stem transactions.