Western & Southern Financial Group

Retirement Specialist - Reduced hours (30)/Benefits Included

Human Resources
Full Time
Western & Southern Financial Group


Summary of Responsibilities:

Evaluates requests for retirement benefits to determine eligibility for both retirement and health benefits for active associates entering retirement as well for deferred pensioners. Processes transactions for monthly pension payroll(s) to include balancing earnings and deductions and approval of the final payroll. Processes the biweekly and monthly 401(k) contributions and balances month-end accounting. Approves 401(k) distributions to include hardship requests. Determines correct beneficiary for group term life insurance for active and retired associates and their spouses, and also determines if the surviving spouse or beneficiary is entitled to other benefits under the defined benefit plan, 401(k) plan and/or retiree health and welfare plan. Works with minimal supervision and is responsible for making an established range of decisions, escalating to Manager when necessary and updating Manager on a regular basis.


Position Responsibilities:

  • Prepares and reviews retirement quotes, kits, termination and deferred benefit final benefit letters for mailing. Determines if/when an associate is eligible to receive retirement benefits under the defined benefit plan and the appropriate welfare benefits to offer upon retirement. Clearly communicates information to associates verbally and in writing. Meets with associates to explain their retirement benefits, the process of retiring and answer any questions.

  • Establishes and maintains all pension records in the Pension system, including electronic processing of monthly pension checks and deductions. Also, ensures records are set up accurately for tax reporting. Responsible for calculating any missed deductions and the recapture of any overpaid benefits. Investigates and rectifies any situations involving adjustments of pay.

  • Examines requests for Hardships and other distribution requests from the 401(k) plan for eligibility, vesting and to ensure regulatory requirements are met, and approves/denies transaction. Consults with Manager on requests that fall outside the standards.

  • Updates and maintains associate 401(k) contributions and loan information using the 401(k) system and the payroll system. Educates members on timing of regular contributions and catch up. Communicates with 401(k) record keeper on a daily basis regarding 401(k) processing and associates’ accounts.

  • Balances 401(k) accounts to ensure participants and Company contributions are recorded correctly.

  • Audits and reconciles pension and 401(k) payroll transactions, and approves payroll for processing on a bi-weekly and/or monthly basis. Investigates and rectifies situations that occur causing discrepancies between systems such as overpayments, deaths or collection of additional premium. Completes assigned accounting reconciliations on a monthly basis using AssureNET. Works with multiple groups across the organization to determine cause of out of balance and takes the necessary steps to correct.

  • Assists with the research and data validation for legal and regulatory requirements, including the annual valuation, tax reporting, open enrollment, annual audits, discrimination testing, benefit statements, etc.

  • Handles all phases of death claims involving active associates, retirees, spouses and deferred participants. This includes taking the initial notification from the family, working with the funeral home as applicable, calculating overpayments, tracking outstanding claims, including overpayments. Determines retirement benefits that surviving spouse or beneficiary may be eligible to receive. Communicates payment and benefits information to beneficiary or representative of the estate. Prepares monthly and yearly reports on death claim activity that is shared with Senior Management.

  • Determines eligibility for health and life benefits at retirement. Effectively communicates information regarding plan options to active and retired associates. Processes changes as needed and/or requested, works with Benefit Analyst group to ensure multiple systems reflecting eligibility and coverage are in sync.

  • Defines and tests any system changes required for the pension and retirement systems. In addition, defines and tests the annual Retiree Benefit Statements for accuracy. Assists with implementation of procedural changes.

  • Answers associate requests over the telephone or through written correspondence within the time service standards set by the department. Exercises excellent customer service skills ensuring each contact is a positive experience by using a professional tone, displaying empathy as appropriate, being sincere and practicing good listening skills. Uses sound judgment when confronted with an unusual or unfamiliar request.

  • Maintains compliance with applicable federal and state laws (e.g., HIPAA) related to privacy, security, confidentiality and protection of personal information, including, but not limited to, personal health information and personally identifiable information.

  • Performs other duties as assigned by management.


Selection Criteria:

  • Proven experience working in a customer-oriented field, effectively articulating complex technical information via phone/written communications, demonstrating the ability to deliver an adverse response in a positive manner.

  • Demonstrated excellent verbal and written communication skills with ability to convey information, verbally and in writing, to internal and external customers in a clear, accurate, focused and concise manner. Demonstrated ability to document procedures and activities in a manner that is understandable to others and prepared using a prescribed format. Verbal and written communications are to conform to proper rules of punctuation, grammar, diction and style.

  • Proven experience working independently to make decisions and demonstrate initiative. Experience must include identifying, defining and resolving problems, and collecting or interpreting data to establish facts, draw valid conclusions and provide solutions to complex problems.

  • Demonstrated experience maintaining a calm and professional demeanor with callers and associates at all levels in the organization.

  • Demonstrated strong attention to detail with excellent organizational skills. Must cite examples of organization and time management methods used to manage or prioritize workload demands.

  • Proven experience completing multiple assignments simultaneously, and completing assigned tasks accurately and on a timely basis.

  • Proven experience adapting and demonstrating flexibility associated with changes to policies/procedures.

  • Proven ability to handle confidential information in a discreet manner.

Work Setting:

  • Works in an office setting and remains in a stationary position for long periods of time while working at a desk, on a computer or with other standard office equipment, or while in meetings.

  • Performs continuous keyboarding work requiring the ability to make repetitive motions of the wrists, hands and/or fingers.

  • Requires visual acuity to read a variety of correspondence, reports and forms, and to prepare and analyze data in an accurate, neat and thorough manner.

Educational Requirements:

  • Bachelor’s degree in business or equivalent experience preferred.

Computer Skills and Knowledge of Hardware & Software Required:

  • Working knowledge of word processing, spreadsheet and database applications.

Certifications & Licenses (i.e., Series 6 & 63, CPA, etc.):

  • None required.

Position Demands:

  • Extended hours required during peak workloads or special projects.


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