Disbursement Specialist
Disbursement Specialist
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Job Description
4655 Mueller Blvd
Austin Texas 78723
United States
WHO WE ARE:
In the Pension Services Division we cultivate connection with more than 2.0 million valued members by striving for excellence through counseling and administering benefits for retirees active members and employers. It is our goal to ensure our members have personalized service for pension benefits everyday.
Joining our fast-paced team youll have the opportunity to create meaningful experiences by learning the ins and outs of our business alongside a committed and collaborative community. Through coaching and mentorship youll gain the skills you need to achieve your career goals at TRS while earning member trust and making a positive impact in their lives.
The Disbursement Specialist is responsible forreviewing payments and processing account information for TRS members. Theincumbent will disburse cancel and reissue annuity payments process new and reviseaccount information to ensure payment of retirement benefits and research andresolve payment issues. This position will proactively work with the BenefitProcessing team Disbursements team Pension Services staff and agencyemployees.
WHAT YOU WILL DO:
Annuity Payments
Conducts extensive research in each case scenario to ensure appropriate and correct actions are taken.
Reviews and processes automated and manual annuity payrolls in compliance with applicable regulations policies and procedures.
Maintains appropriate disbursement processing controls and assists with setups of deductions garnishments voluntary deductions Tax Withholding Allowance Certificates (W-4Ps) and direct deposits including returned monies and payment cancellations.
Distributes benefit checks and statements of earnings and deductions.
Reviews duplicate payment information to determine why duplicates were created and assists in preparing affidavits or statements necessary to inform appropriate staff to collect overpayments.
Prepares and codes manual vouchers to request or cancel payments to annuitants.
Responds to phone email and written inquiries from members their families school districts and other interested parties regarding account information annuity payment issues refund status routine income tax issues and disbursement related laws regulations policies and procedures.
Processes stop payment requests and prepares warrant cancellation vouchers.
Coordinates statute of limitations and responses including stop payment requests and re-issuing outdated payments as appropriate.
Assists in preparing reversal vouchers to cancel electronic funds transfer (EFT) deposits due to notification of closed accounts death of annuitant stolen account information employment after retirement or other appropriate reason including notifying appropriate staff to reissue payment when needed.
Communicates and coordinates with other agency staff and external entities to research explain and/or resolve complex annuity payroll issues and problems.
Posts or maintains office operating records or controls on disbursement payments report creation and posting procedures.
May conduct on-the-job training sessions.
Examining Updating and Processing Account Information
Obtains verifies and updates member and account information from members their families school districts and other interested parties.
Enters all changes requested by Benefit Processing and Disbursements to annuity payroll/alternate payee (ANPA/ALTP) systems.
Monitors special rollover address information at the State Comptroller of Public Accounts through the Texas Payee Information System (TPIS).
Creates and maintains special account files for IRS levies child support qualified domestic relations orders (QDROs) personal bankruptcies and excess benefits payees.
Maintains and updates related logs files records databases and spreadsheets.
Researches prepares and types corrected 1099-R and 1042-S statements.
Provides routine technical assistance to members and agency staff regarding Disbursement related forms documents rules policies procedures and systems as well as agency laws regulations procedures and processes.
Prepares or assists in preparing Estate Evaluation Worksheets on deceased members for their executors attorneys or accountants.
Prepares or assists in preparing waiver of benefit documents and letters for annuitants to assist them in adjusting annuity payments.
Assists in reconciling daily non-processed direct deposit and address error list and researches annuitant files to obtain correct mailing address and re-mail returned warrants.
Refund Research
Identifies problems based on standard reports referrals from agency staff member inquiries or other sources.
Researches records and gathers facts from members financial institutions the Comptrollers office the Attorney Generals officeand other appropriate sources.
Determines and implements the most appropriate action needed to resolve the problems such as re-mailing canceling or reissuing checks; issuing stop payments; and/or account reparation.
Researches previously refunded accounts to verify that payment was issued and received by members or initiates the forgery review process when necessary.
Researches errors and resolves discrepancies with Investment in Contract computer calculations.
Performs related work as assigned.
WHAT YOU WILL BRING:
Required Education
High School Diploma or GED.
Education and experience may substitute for one another.
Required Experience
Three (3) years of full-time directly related progressively responsible experience in payroll accounting financial analysis banking or benefit processing or related experience.
Preferred Qualifications
Associates or Bachelors degree from an accredited college or university in accounting business finance or a related field.
Experience in reviewing governmental legal or financial documents.
Experience with Automated Clearing House (ACH) and/or other related banking transactions.
Knowledge of
Basic accounting and business concepts and terminology.
Skill in
Analyzing detailed financial reports with a high degree of accuracy.
Conducting thorough and detailed account investigations.
Preparing concise and accurate reports.
Interpreting and applying complex laws regulations policies and procedures.
Planning organizing and prioritizing work assignments to manage a high-volume workload in a fast-paced and changing environment including completing detailed work with a high degree of accuracy.
Using a computer in a Windows environment with Microsoft Office word processing spreadsheet and other business software including accurately entering alpha/numeric data.
Effective written and verbal communications including explaining complex technical information to people of all levels of technical knowledge.
Providing quality customer service.
Ability to
Establish and maintain harmonious working relationships with co-workers agency staff and external contacts.
Work effectively in a professional team environment.
Military Occupational Specialty (MOS) Codes:
Veterans Reservists or Guardsmen with experience in the Military Occupational Specialty ( along with the minimum qualifications listed above may meet the minimum requirements and are highly encouraged to apply. Please contact Talent Acquisition atwith questions or for additional information.
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Required Experience:
IC
Employment Type
Full Time
