Job: Pension Plan Administrator - GERP

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Job Description

Overall Job Objective

Summary of Job Duties

City of Aurora
General Employees' Retirement Board

The Board of Trustees of the General Employees' Retirement Plan (GERP) of the City of Aurora, Colorado is seeking applicants for the position of Pension Plan Administrator. This position will perform administrative, professional, financial, supervisory and management work under the direction of the City of Aurora General Employees' Retirement Board.  Acts as administrator to the Board in its capacity to provide a financially sound pension plan for City of Aurora employee members.

GERP is a defined benefit pension plan created by the Aurora City Council in 1967.  The Plan is managed by seven voting trustees and four non-voting representatives of the City.  The Board has hired an administrative staff of three to conduct the day to day operations of the Plan.  The Plan covers approximately 3,000 participants, including about 1,800 active employees, 1,000 retirees and 200 deferred vested members.

The Plan has approximately $475 million in assets invested in a strategically managed portfolio across a broad range of diversified asset classes.  The Plan utilizes the services of an investment consultant and numerous investment managers.

Additional information about the Plan is available at www.auroragerp.qwestoffice.net.

BENEFITS:

The beginning salary for the Pension Plan Administrator will be market based, dependent upon qualifications.

The cost of benefits such as health insurance, disability insurance and life insurance are shared between the employee and the employer.   Additional benefits, such as paid vacation and holiday time, follow the guidelines for City of Aurora employees.

For retirement benefit purposes, the Plan Administrator is a member of GERP, entitled to the same benefits and subject to the same qualifications as all City employees.

This position will close on Friday, March 2, 2018 at 12 noon. 

Primary Duties and Responsibilities


Board Administrative Responsibilities:

  • Implements the Board's decisions in the day-by-day operations of the plan.  Provides the Board with all relevant information arising from or connected with the plan's operations to facilitate timely and effective decisions.  Prepares and distributes periodic reports on the plan for the benefit of the Board and others.  Arranges for all regular and special meetings of the Board and/or its committees.  Meets regularly with the chairperson to keep him/her up to date with the day-to-day operations of the plan.
  • Monitors all investment decisions made by the Board and implements the Investment Policies and Objectives set by them.  Has direct relationship with the plan's investment managers to facilitate such duties.  Performs due diligence on a regular basis.
  • Periodically analyzes the plan's Investment Policies and Objectives in light of current market conditions and changes made to the plan by the Board.  Makes suggestions as to changes in the investment policy which will more appropriately reflect the Board's policies and objectives.
  • Provides written records of all regular and special meetings of the Board and all investment managers meetings.  Maintains records and accounts of the plan, coordinating and verifying data from other sources, including investment managers, Aurora Human Resources office, consultants, actuaries and plan custodian.
  • Reconciles all financial information used in the preparation of treasurer's reports and financial statements.  Prepares monthly treasurer's reports and reviews them with the Board at monthly meetings.
  • Serves as the principal liaison for the Board with the plan's investment managers, investment consultant, custodian bank, actuary, auditor, attorney and any other agents and agencies as required, obtaining and analyzing appropriate reports and bringing any questions that arise to the Board's attention.  Monitors closely all professional fees paid by the Board for services rendered.
  • Conducts searches, as necessary, for professional service providers.  Prepares the request for proposal and provides the Board with a list of potential candidates.  Assists all search committees.
  • Reviews all legal documents for the Board and determines if professional assistance is required.  Responsible for qualifying all QDROs and correspondence with all parties involved during the qualifying process.
  • Assists in researching and analyzing options and changes available to the existing plan and makes recommendations.  Responsible for implementing plan changes from obtaining information for Board discussion to employee communication to obtaining final approval from city council.
  • Supervises the election of the city employee representative to the Board; recruits qualified council appointed representatives as needed.
  • Establishes and maintains effective communications with the Aurora City Council and city administration behalf of the Board.  Presents a review of the plan at annual City Council Reception.
Investment Responsibilities:
  • Keeps abreast of current market conditions and how they affect the plan's investments. Makes the Board aware of the positive and negative affects of changes in the market.
  • Works with the custodian and investment consultant in producing accurate and informative investment reports.
  • Monitors the movement of funds when investment managers change or when funds are reallocated between managers.  Works closely with the custodian in making such changes.
Participant Responsibilities:
  • Establishes and maintains effective communication with plan retirees and with city employees to assure maximum acceptance and satisfaction and to assist employees in preretirement planning.  Reviews and approves all employee communication.
  • Together with Benefit Administrator, responsible for developing and conducting preretirement seminars.  Reviews all materials presented at seminars.
  • Works with the Benefit Administrator on the development of participant statements and benefit estimates, including earnings and interest projections.
  • Prepares financial statements and investment information for inclusion in annual reports to plan members.
Administrative Responsibilities:
  • Supervises and directs other plan employees, including preparation of the job descriptions, performance goals and objectives and performance evaluations.  Assists other employees in all phases of their jobs.
  • Prepares annual administrative budget for the following year for Board approval at the November Board meeting.  Prepares adjustments, if needed, to current year's budget for review at the July Board meeting.  Always administers plan expenses within budgeted amounts.
  • Evaluates all incoming billings and directs payment of all approved contract obligations, operating expenses and staff payroll.  Reviews expense statements for staff and Board members.
  • Assists auditors by providing information on records and procedures used in preparation of treasurer's reports and financial statements.  Balances all accounts at year end to assist the auditors with the preparation of their annual report.  (Accounts include fixed assets, deferred compensation, prepaid expenses, etc.).
  • Assists in the writing and preparation of the Policies and Procedures Manuals for the office and staff.
  • With the assistance of information systems consultants, designs or selects, implements and maintains appropriate software and computer systems for the administrative and financial requirements of the plan.

Minimum Qualifications

Education:

  • Bachelor's Degree in Business, Public Administration or related field; Master's Degree in related field is preferred but not required.
Knowledge:
  • Knowledge of the principles of accounting, management, actuarial science and investments. 
  • Must possess broad knowledge through education and/or experience, of the principles of investment management, including relationships of financial markets and the economy. 
Experience:
  • A minimum of five years of broad based experience in a responsible administrative/management position (i.e., public administration, investment firm, corporate or public retirement pension fund, or financial institution). 
  • Experience with computers and computer application as it relates to sophisticated record keeping and financial accounting.
Skills:
  • Excellent interpersonal and communication abilities.
  • Detail oriented.
  • Demonstrate record of achievement in major positions held.
  • Must be bondable

Working Conditions

Travel:

  • Some travel to conferences and educational seminars is required.
Hours of Operation:
  • Monday - Friday : 8AM - 5PM

Primary Work Location:
 
12100 East Iliff Avenue, Suite 108
Aurora, Colorado 80014
Phone: (303) 368-9160
Fax: (303) 368-9181
 

 

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