As Chief Executive Officer of the Framingham Retirement System, the person is responsible for the enforcement of all regulations pertaining to public pension benefits, as they pertain to the membership of the Framingham Retirement System, according to the job posting.
The position is full time, and the salary range is $77,925 - $93,126. The position was posted on Nov. 22.
"Candidate should possess bachelor’s degree in accounting or business-related discipline from an accredited college or university plus a minimum of 5 years related experience within a MGL Chapter 32 public retirement system."
The person would be:
- Responsible for the accurate and timely reporting to Retirement Board Members of all pertinent information as it relates to the daily administration of the Retirement Office.
- Responsible for ensuring timely and accurate reporting from custodial bank, investment consultant several investment managers. Responsible for interpreting and recording all financial reporting relative to the assets of the Framingham Retirement System. Responsible for providing timely and accurate financial reporting to several governmental agencies, including preparation of Trial Balance, Receipts Journal, Disbursements Journal and Adjusting Journal Entries, on a monthly and year-end basis. Assists both PERAC auditors and the Town’s independent auditors in the analysis and explanation of Retirement System financial records.
- Responsible for the preparation of the annual operating budget for approval by the Framingham Retirement Board.
- Responsible for the annual submission of membership and financial data to the Actuary.
- Responsible for interpreting the annual Actuarial Report and providing notification to the Chief Financial Officer and Town Manager advising annual appropriations due the Retirement System. Responsible for notifying the Town Accountant and Treasurer/Collector of the annual appropriation payment schedule, monitoring timely receipt of the Retirement System appropriation.
- Responsible for the computation and collection of annual reimbursement from Town departments for federally funded employees.
- Responsible for the computation and collection of pro-rata pension amounts receivable and payable from 105 contributory retirement systems within the Commonwealth of Massachusetts.
- Responsible for ensuring proper receipt of annual cost-of-living reimbursement from the Commonwealth of Massachusetts.
- Responsible for calculating cost-of-living adjustments for eligible retirees and survivors of the Framingham Retirement System and verifying that retiree records reflect accurate cost-of-living data for actuarial purposes.
- Responsible for ensuring that sufficient cash is available to meet monthly pension payroll and operating expense. Must coordinate asset transfers with PRIM/PRIT managers and custodial bank as deemed necessary.
- Responsible for the review and payment of retirement system expense in the PTG Accounting Systems.
- Responsible for coordinating the timely disbursement of terminated membership accounts, as regulated by PERAC and the IRS. Including the transfer of memberships to 105 contributory retirement systems within the Commonwealth of Massachusetts.
- Responsible for the issue of 1099R forms to terminated members of the system.
- Responsible for the timely deposit of federal tax withholding to the IRS and the submission of associated year-end reporting to the IRS.
- Responsible for the preparation of all relevant information for presentation to members of the Framingham Retirement Board at monthly Board meetings. Maintains the confidentiality and integrity of the reports; their findings; and conclusions until approved by the Framingham Retirement Board. Responsible for coordinating and interpreting various matters involving legal counsel. Responsible for accurate and timely submission of decisions of the Framingham Retirement Board to interested parties.
- Responsible for the training and supervision of retirement office staff. Responsible for the daily administration of the retirement office, ensuring staff are effectively administering retirement benefits as legally regulated. Responsible for maintaining adequate office coverage at all times.
- Responsible for conducting Retirement Board Elections as legally regulated.
- Responsible for counseling retirement system membership, with an emphasis on maintaining fair and consistent policies of the Retirement System as legally provided. Responsible for coordinating educational seminars for the membership of the system as deemed necessary.
- Responsible for providing annual Financial Statement to retirement system membership.
- Responsible for the processing of disability applications, including the collection and recording of various medical records from associated medical facilities. Responsible for coordinating the convening of Regional Medical Panels with PERAC. Responsible for maintaining the confidentiality and integrity of the medical reports.
- Responsible for monitoring workers compensation benefits awarded to active and retired members of the system and applying any applicable pension off-set as legally required.
- Responsible for apprising Framingham Retirement System membership of appropriate appeal rights should they be aggrieved by a decision of the Framingham Retirement Board and/or PERAC.
- Responsible for the oversight of proper enrollment of new members entering the system, ensuring that new employees of the Town of Framingham meet the membership criteria as prescribed by MGL Chapter 32 and Framingham Retirement Board supplementary regulations.
- Responsible for the custody, moving, disposal and oversight of all retirement system records, maintaining the confidentiality and integrity of the records at all times. As custodian of the records, responsible for appearing in court with said records upon receipt of subpoena.
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