Pension Billings Administrator

Description:

1. Administers one or more assigned pension plans to ensure clients, members, trustees, custodians and other stakeholders receive contracted services in accordance with established standards of service quality, accuracy and turnaround time by:

a). Maintaining current information on employee pension benefit status through secure employer websites;

b). Responding to direct member inquiries on plan benefits, rules and procedures, distributing appropriate forms and instructions for refunds, withdrawals, terminations and other options, and following up to ensure timely and accurate completion and return;

c). Processing member requests for plan refunds depending on eligibility and entitlements including requesting calculations and valuations from external plan consultants; updates system information

d). Preparing and distributing plan termination notices, statements and member packages;

e). Preparing retirement information packages including pension estimates, options and alternatives prepared by senior pension specialists, ensuring all documentation is returned and confirmed, processing electronic funds transfer requests for direct deposit, preparing confirmation letters and updating system entries;

f). Responding to member death notices including accessing records of end of life options, obtaining death certificates and notifying plan custodians and trustees of member status and entitlements;

g). Updating existing spreadsheets, calculating tax payable on payment amounts and determining net amounts;

h). Releasing monthly automated funds transfers for pensioners and/or processing payments directly through client accounting or third party provider, posting related system entries and balancing to T4A listings;

i). Ensuring all work is peer reviewed prior to member distribution and payment.

2. Prepares and updates monthly plan reciprocity entries from a variety of multi-employer records for individual members to facilitate pension entitlements with no breaks in service. Produces a variety of system-generated and manual reports to track pension contributions from multiple sources and prepares deposit sheets to initiate monetary transfers between reciprocal unions participating in the plan. Maintains manual and automated files and records.

3. Prepares and distributes new employer packages for union locals joining existing pension plans including trust and plan texts, enrolment applications, tax reporting procedures and other information on plan administration.

4. Provides information to members on voluntary contribution and transfer-in procedures from other pension vehicles including providing forms and following up on their completion. Tracks incoming funds, enters amounts into internal systems and post entries. Processes contributions through financial institutions and confirms completion.

5. Produces templated letters advising members approaching RRIF conversions of actions required to accommodate regulatory requirements.

6. Conducts year end processes for one or more assigned pension plans through the application of checklists including producing annual spreadsheets to identify and generate required member statements, compiling a variety of materials such as newsletters from fund managers and plan booklets, and preparing member packages for distribution. Processes year end billings.

Health and Welfare Plan Disbursements/Accounts Receivable and Payable

7. Reviews and processes accounts payable invoices for payment by custodians to ensure accurate and timely reimbursement of trustee expenses and payment of consulting and legal fees, plan expenses, annual renewal fees, liability insurance and related disbursements by preparing, recording and forwarding invoices for authorization by trustees and distributing to custodians for payment upon approval. Identifies and processes invoices for co-payment where expenses are shared,

8. Conducts monthly accounts receivable processes for general D.A. Townley pension plans according to the terms, conditions and formulas established through administration agreements. Balances and reconciles payments. Manually updates plan rates to reflect annual rate changes.