Position open until filled.

TRS provides retirement benefits for teachers who are employed by all Illinois public common and charter school districts located outside the city of Chicago. The Illinois Pension Code contains the laws relating to our creation, benefits, and administration.

Position Overview

Under the direction of the Chief Benefits Officer, the Deferred Compensation Manager is responsible for the efficient and effective operation of the TRS Supplemental Savings Plan (SSP), which is an eligible deferred compensation plan under Section 457(b) of the Internal Revenue Code (“Code”).  The Deferred Compensation Manager is responsible for policy formulation, implementation, leadership, compliance, and administration of the TRS SSP, including oversight of the recordkeeper and other SSP vendor relationships.  The Deferred Compensation Manager, in coordination with the third party recordkeeper, the SSP consultant, and the TRS Communications Department is responsible for planning, developing, and executing a comprehensive external member education program designed to enhance the knowledge and understanding of the TRS SSP.

Key Responsibilities

• Work closely with Chief Benefits Officer to provide strategic direction and oversight of the TRS SSP 457(b) Plan. Make clear and concise verbal and written presentations to varying audiences.
• Provide employer training and guidance on the TRS SSP reporting responsibilities and procedures as described in the SSP Administrative Guide, as necessary.
• Educate and provide guidance to TRS staff on all aspects of the TRS SSP Plan.  Hire, develop, and mentor TRS SSP staff to aid in the oversight of the TRS SSP Plan.
• Communicate SSP plan details, changes, and regulatory mandated disclosures to TRS SSP participants and employer representatives.
• Provide oversight of the third party recordkeeper and other SSP Plan vendor relationships, including compliance with Service Level Agreements and monitoring of required financial and management reports.
• Ensure employer, plan and recordkeeper data and contributions are reconciled and discrepancies resolved in a timely manner, as required. Ensure eligibility/termination data is timely remitted to the recordkeeper.
• Develop annual external member educational program for the TRS SSP plan encouraging members to save for retirement. Implement member assessment tool for the TRS SSP Plan. Analyze member satisfaction and service needs and implement solutions.
• Provide subject matter expertise in the development and implementation of automated systems for the TRS SSP Plan.
• Assist the TRS Legal Department to communicate valid QILDRO information to the third party recordkeeper in order for TRS SSP assets to be properly divided among participant and alternate payee.
• Assist the third party recordkeeper with any additional information they may require such as normal retirement age for special catchup calculations, deceased information, etc.
• Work with the Outreach Director to educate and update stakeholder groups on the benefits of the TRS SSP and participation in the plan.
• Assist the Chief Benefits Officer with the creation and maintenance of the Member Services annual budget.
• Have a working knowledge of Agile and Scrum principles, values and practices.
• Serve on cross-functional Agile teams as a team member, Product Owner or Subject Matter Expert as needed.
• Maintain an understanding of existing statutory requirements, rules and procedures that determine retirement options and benefits.
• Have the ability to read, interpret and communicate applicable Internal Revenue Code and payroll related laws and regulations for proper application to the SSP Plan. 
• Participate in training and educational opportunities for ongoing professional development.
• Perform other duties as required or assigned.

Minimum Qualifications

• A bachelor’s degree in accounting, finance, math, statistics, or business administration.
• A minimum of five (5) years’ experience with deferred compensation plan design, implementation, and/or administration.
• Governmental 457(b) plan experience preferred.

Benefits

•   State health, dental, life, and vision insurance
•   12 vacation, 12 sick, and 3 personal time days of compensated time
•   Teachers’ Retirement System pension
•    Deferred Compensation plan

TRS is an equal opportunity employer. All aspects of employment including the decision to hire, promote, discipline, or discharge, will be based on merit, competence, performance, and business needs. We do not discriminate on the basis of race, color, religion, marital status, age, national origin, ancestry, physical or mental disability, medical condition, pregnancy, genetic information, gender, sexual orientation, gender identity or expression, veteran status, or any other status protected under federal, state, or local law.