Job Information
City of Warwick Pension Generalist in Warwick, Rhode Island
Reports to the Pension Administrator and assists with the full range of tasks necessary to manage the Citys five pension plans servicing 1,100 Police, Fire and Municipal retirees receiving annual pension distributions of $53.8M, and performs related duties. Duties and Responsibilities: Reviews employment records to ensure all pension calculations are precise, accurate and in accordance with plan documents, collective bargaining agreements and City ordinances. Confers with beneficiaries and employees to explain plan options and related matters necessary to the understanding of the benefits plans. Calculates and provides service purchase estimates, finalizes calculations, and assists with documents to roll-over funds or initiate other payment options. Calculates disability benefits and assists employee in evaluation of disability benefit options; assists with the completion of applications. Prepares quarterly Municipal Retirement Board agenda, schedules meetings in accordance with open meetings rules, takes notes and prepares minutes for the review of the Administrator and Board Chair; and posts approved minutes to the Secretary of State website. Calculates the value of multiple retirement options based on three distinct pension formulas - Firefighter, Police and Municipal - for all prospective retirees. Gathers and compiles demographic information on retirees and employees for annual actuarial valuations and periodic tests by actuarial consultants. Determines benefits for widow, dependents and qualified domestic orders by review of legal documents, contracts, ordinances, State and Federal laws. Confers with the City Solicitor and incorporates legal opinions into plan management. Gathers data necessary to calculate annual/semi-annual COLA increases as per ordinance and contracts. Coordinates with third party pension payer to accurately distribute monthly/semi-monthly pension checks. Administers the offset income compliance annual reporting for retirees on disability pension. Performs other tasks as required. Knowledge, Skills and Ability: Advanced knowledge of Excel or very similar spreadsheet software. Knowledge of the principles and practices of financial reporting. Knowledge of third party payers. Knowledge of math, and the ability to apply it to pension administration. Ability to operate human resource management systems (HRMS) to gather data/generate reports. Education and Experience: Bachelor of art or science with a specialization in accounting, math, finance, or related field; and a minimum of two years of experience in the field of defined benefit pensions, actuarial services, accounting or a related field; or a combination of equivalent education and experience. Additional years of related experience may be substituted for the BA/BS. The City of Warwick offers a robust menu of employer provided benefits to include individual and family health and dental insurance; paid time off to include holidays, vacation, personal time and sick leave; pension, life insurance, and optional, supplemental retirement plans. THE CITY OF WARWICK IS AN EQUAL OPPORTUNITY EMPLOYER https://www.warwickri.gov/personnel-department/webforms/submit-application-or-resume
