University of Waterloo

Returning Candidate?

Pension Administrator

Pension Administrator

Requisition ID 
2018-2921
Job Category  
Administration
Department 
5330 - Human Resources
Job Status 
Regular Full-Time
Hiring Range 
$48,620 - $60,775

More information about this job

Overview

This position provides day-to-day administration of the UW Pension Plan, with the assistance of a Co-op Student each term, and helps promote members’ understanding of the pension program through responding to daily queries.

Responsibilities

Co-ordinate day-to-day pension administration

  • With the assistance of the Co-op Student, perform pension calculations and prepare option statements when members terminate employment, retire or die, and ensure all required forms and documents are received and processed (Faculty and high salary Staff retirements are reviewed by Pension Manager)
  • Oversee and assist with the timely and accurate preparation of payment authorizations for Trustee done by the Co-op Student
  • Notify colleagues of deaths that require claim co-ordination with life insurance carrier for active and retired members; support life claims process as necessary and communicate HRMS updates to HR colleagues
  • Prepare authorizations for invoices to be paid from the pension fund
  • Reconcile payouts (benefits and expenses) from fund’s financial statements
  • Assist with annual COLA adjustments, including special pension payments paid from UW payroll
  • With Pension Analyst, review applications, select candidates to interview, and select Co-op Student each term
  • Assist with functional oversight of Co-op Student and provide performance feedback to Pension Manager each term

Communication of pension program

  • Meet with members/beneficiaries to explain various payment options and provide support to members
  • Inform campus community as required of terminations, retirements and deaths
  • Provide plan member information for retirement and death notices appearing in WATtimes (Retiree Association Newsletter)
  • Provide customer service by responding to daily questions received by telephone, email and in-person
  • Assist in preparing campus information sessions by booking the room, coordinating announcement communications, as well as assisting with drafting, revising and presenting sessions to campus
  • Prepare/peer review retirement letters 

Non-routine pension administration

  • Administer the flex and additional voluntary contribution provisions of the plan
  • Co-ordinate communication and administration of transfers in from prior employers’ pension plans
  • Assist in ensuring member data integrity prior to performing calculations and with regard to data files sent to actuary for valuation purposes

Other projects as requested

  • Work with pension fund auditors to compile data and respond to queries
  • Suggest and draft WATtimes articles
  • Other duties as assigned

Qualifications

  • 3 year post-secondary qualification or equivalent experience
  • 5-10 years of progressive experience administering defined benefit pension plan
  • Familiar with Ontario pension legislation and pension related provisions of the federal ITA
  • Demonstrated analytical and problem solving experience
  • Basic/Intermediate MS Word
  • Basic/Intermediate Excel
  • Basic PowerPoint
  • Pension administration system (Ariel)
  • HRMS system (PeopleSoft/Workday)
  • Competencies will include interpersonal and communication skills, analytical and problem solving skills, attention to detail, and strong math skills