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Consultant Retirement Services and Systems

Company: 
BCBSA
CIty: 
Chicago
State: 
Illinois
Employment type: 
Full time
Remote Position: 
No
Required degree level: 
Other

Overview

Role Designation: Hybrid - In office Tues & Weds

Interpret qualified plan documents and apply proper early retirement and interest rate factors to calculate final pension benefits. Communicate with Plan representative as well as participants regarding the retirement process. Process denials and work with legal staff to ensure that all ERISA regulations are followed. Also work with developers and plan personnel to manage annual total rewards updates and implementation. Work on special projects such as adjusting payments, Open Windows and special requests. Serve as backup technical support of the disability claims system. Constant interaction with NEBA department staff, external vendors and consultants, NEBA Plan clients, BCBSA technical and financial areas, and outside actuaries and systems consultants.

Responsibilities

Responsibilities include but are not limited to:

  • Interpret qualified plan documents and apply proper early retirement and interest rate factors to calculate final pension benefits. Communicate with Plan representative as well as participants regarding the retirement process. Process denials and work with legal staff to ensure that all ERISA regulations are followed. Apply proper IRS and DOL regulations when processing an actual claim or estimate. Analyze and verify benefit formulas to ensure accuracy. Work with Plans and legal staff on desired pension provision changes; ensure they are implemented into the plan document properly and into the benefits system accurately. Ensure all required communications are sent timely. Processes qualified domestic relations orders (divorce decrees) and work with ERISA attorney to draft communications. Makes presentations to Plan employees and provides assistance to Plans as needed by conducting benefit and preretirement workshops to orient participants on the NRP.
  • Assist National Employee Benefits Administrators (NEBA) system users with general computer problems and with application-specific system problems/functions. Manage total rewards projects throughout the year. Work closely with Plans and systems partners to coordinate timing and data collection from plans. Responsible for preparing pension data for total rewards site and coordinating data from internal 401(k) staff. Perform acceptance testing of Total Rewards site and deliverables. Manage and deliver all batch calculation requests from actuaries and plans.
  • Responsible for coordinating the National Retirement Program payment process. Working with retirement services staff, actuaries and Trustee to ensure proper controls are followed, and all work is timely. Back-up for tracking, balancing payments, and communicating funding of payments from the trust.
  • Analyze and interpret Supplemental Retirement Documents in processing executive pension calculations. Provide answers to retirement questions in absence of manager



Qualifications

Required Basic Qualifications:

  • Bachelor's Degree in related discipline or equivalent work experience
  • Minimum 3 years of pension administration and analysis experience or similar qualified plan experience.
  • Proficiency with Windows, MS Office, SQL, Multi-Edit, and relational database systems.
  • Demonstrated mathematical ability, attention to detail, and accounting skills
  • Detail orientation with strong analytic abilities which enable the generation of independent alternative problem-solving approaches/techniques as well as the analysis of procedures and suggest and implement changes/improvements
  • Demonstrated experience managing projects.
  • The ability to listen carefully/respond appropriately to client needs
  • Strong organizational and communication skills specific to time management, business writing and verbal skills
  • A high level of proficiency with Microsoft Word and Excel as well as an understanding of relational database structure and underlying business logic which enables the completion of complex database queries



Equal Opportunity Employer

Blue Cross Blue Shield Association is an equal opportunity employer. We evaluate qualified applicants without regard to race, color, religion, sex, sexual orientation, national origin, age, gender identity, disability, veteran status, genetic information or any other legally protected characteristics.

Make an impact on healthcare in America. A career with Blue Cross Blue Shield Association allows you to be part of the foundation that supports the 35 Blue Cross and Blue Shield companies nationwide, while protecting and strengthening the Blue Cross Blue Shield brand. Our work is helping provide greater access to cost-effective healthcare, improve the health of America and build stronger communities. With a commitment to diversity, equity and inclusion, we celebrate different cultures, languages, backgrounds and experiences while striving to advance health equity, and we want you to join Team BCBSA.

Accommodations:
Vision Accommodations, Hearing Accommodations, Neurodiversity, Learning, Mental Health, Mobility