Utah Retirement Systems

Retirement Planning Advisor

US-UT-Salt Lake City
2 weeks ago(1/5/2018 4:51 PM)
Job ID
2018-2495
Category
Retirement Planning and Employer Relations
Min
USD $58,084.00/Yr.
Max
USD $74,058.00/Yr.

About The Company

Utah Retirement Systems (URS) provides benefits for state and other Utah public employees.  It has two divisions.  The Retirement Office administers pension and retirement savings plans.  PEHP specializes in medical, dental, life, and other benefits.

Job Description

POSITION SUMMARY

Conducts individual retirement planning sessions and group seminars. Advises officials, members, and unit administrative personnel regarding retirement benefits available through Utah Retirement Systems. Provides technical analysis of member retirement and defined contribution programs to facilitate quality retirement planning and program utilization.

 

REPORTING RELATIONSHIPS

Works under the direct supervision of the Retirement Planning Supervisor.

 

ESSENTIAL JOB FUNCTIONS AND DUTIES

  1. Conducts individual retirement planning sessions that include providing customized advice and recommendations on:
    1. Retirement savings plans (401(k), 457, Traditional IRA, Roth IRA).
    2. Investment options and allocations.
    3. Defined Benefit pension payout options including Partial Lump Sum Option.
    4. Tier 2 retirement system options.
    5. Pension service credit purchasing decisions.
    6. Other retirement related topics 
  2. Develops comprehensive retirement planning snapshots for members. This includes calculating members’ retirement income sources (pension, savings plans (401(k), 457, and IRAs), and Social Security) and providing customized recommendations to help them reach their retirement goals.
  3. Educates, provides, and assists members with:
    1. Retirement savings plans (401(k), 457, Traditional IRA, Roth IRA). Various investment and retirement planning principles.
    2. Financial markets, trends, economic indicators, investment concepts and strategies, and the landscape of competitive products and fees/costs available to individual investors.
    3. Defined benefit retirement systems’ (Tier 1 and Tier 2) benefits and options.
    4. IRS limitations and rules.
    5. Target Date Fund strategies and the risks and benefits of investing.
    6. Risk and return characteristics of investment options.
    7. Quarterly account statements and investment rates of return. Calculates projected account growth and payout stream scenarios using financial calculators.
    8. Portability rules to participants with service in multiple defined benefit systems.
    9. Completing applications for retirement.
    10. Calculating cost vs. benefit comparisons for PLSO decisions, purchases and re-deposits.
  4. Coordinates various aspects of departmental public relations and retirement planning services. Informs and educates participating employers and prospective participating employers of policy interpretations, policy, state codes and guidelines.
  5. Provides assistance to develop processes and procedures designed to enhance efficiency and effectiveness of retirement system educational efforts.
  6. Educates, provides, and assists employers with:
    1. Consulting to discuss the utilization and determining educational needs, by the agency, of the services and provisions administered by URS.
    2. Enrollment and participation follow-up.
    3. Compliance for reporting and contribution requirements.
    4. Resolving retirement related problems and issues.
  7. Provides education for members and employers by giving group presentations, and attending employer-sponsored benefits fairs.
  8. Develops, organizes, coordinating, and presenting employer training, employer conferences, presentations, seminars, individual retirement planning sessions, performs on-site training for agency clerks, administrators, and employees.
  9. Develops and administers targeted educational and outreach programs.
  10. Keeps in regular contact with and surveys members, employers and retirees to evaluate the effectiveness of support and outreach programs as well ensure members are on track to reach their retirement goals.
  11. Assists in determining educational and informational requirements of members and unit administrators
  12. Proactively increases defined contribution plan participation levels and member savings rates through presentations and individual retirement planning sessions.
  13. Assists in developing written and web-based retirement materials (print, video, webinars, social media, etc.) Monitors effectiveness of informational materials and communication vehicles and makes modifications as appropriate.
  14. Assists in monitoring changes or pending changes in retirement system and defined contribution programs resulting from revisions in state and federal law. Update training materials, presentations, and members on changes.
  15. Promotes services and programs and builds a positive public image of the system.
  16. Conducts financial analysis of the impact of deferred compensation on total retirement benefits.
  17. Trains and mentors new team members on all aspects and duties of the position, as requested by the team supervisor or department director.
  18. Maintains current industry knowledge and trends through ongoing continuing education.
  19. Maintains strict confidentiality.
  20. Performs other related duties as required.

Required Experience

Education and Experience

Bachelor’s Degree in finance, marketing, business administration, public administration, public relations, financial planning, organizational communications or related field, and two (2) years of pension/investment or related experience; or an equivalent combination of education and experience.

Must pass the Series 65 Uniform Investment Adviser Law Examination or Series 66 North American Securities Administrators Association within six (6) months of hire.

Certified Financial Planning designation is preferred. Other recognized retirement- and/or investment-industry certifications are desirable.

 

Knowledge, Skills, and Abilities

This list contains knowledge, skills, and abilities that are typically associated with the job. It is not all-inclusive and may vary from position to position:

 

Required technical skills include the moderate knowledge and ability of:

  • Software applications such as Microsoft Office Suite.

 

Required mathematical skills include working knowledge of:

  • Calculating figures and amounts such as discounts, interest, commissions, proportions, percentages, and financial calculations.
  • Working with mathematical concepts such as probability and statistical inference. The ability to apply concepts of basic algebra, fractions, percentages, ratios, and proportions to practical situations.
  • Helping members project different retirement income sources.
  • Conducting cost-benefit analysis to help members make important retirement planning decisions.
  • Explaining some complex financial/retirement planning concepts and developing /analyzing spreadsheets that are used in retirement planning.
  • Projecting account growth and income stream scenarios using a financial calculator.

Must possess excellent communication skills:

  • Develop and deliver presentations to various groups, both small and large.
  • Effectively communicate with members in individual retirement planning sessions.
  • Communicate both verbally and in writing.
  • Written skills are needed in responding to respective employers and members’ questions and issues via email.
  • Must be able to develop educational materials and PowerPoint presentations frequently.

Requires the Moderate Knowledge of:

  • Purposes, principles, and theory of public retirement systems, retirement laws, financial services market, economy, taxes, investment and retirement planning, public relations concepts, and practices.

Must have the ability to:

  • Follow written and verbal instructions.
  • Prioritize work.
  • Perform within deadlines.
  • Mental application utilizes memory for details, verbal instructions, discriminating thinking, and problem solving.
  • Work well in a team environment as well as independently.
  • Multi-task by handling a variety of duties in a timely and efficient manner.
  • Follow through with assignments.
  • Deal effectively with stress caused by workload and time deadlines.

The incumbent must always demonstrate judgment, high integrity, and personal values consistent with the values of URS.

 

Work Environment

Incumbent performs in a typical office setting with appropriate climate controls. Tasks require a variety of physical activities which involve muscular strain, activities related to walking, standing, stooping, sitting, reaching, talking, hearing, and seeing. Common eye, hand, finger dexterity required to perform essential functions. Daily duties include lifting up to 50 lbs.

 

Position requires extensive in state travel for office business. Individual must be physically capable of safely operating a vehicle, possess a valid driver’s license, and have an acceptable driving record based upon data provided by a current Department of Motor Vehicle Record (MVR).

 

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