Disbursement Specialist job Austin Texas
Disbursement Specialist job Austin Texas
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Disbursement Specialist Job

Employer Name: SpiderID: 8924772
Location: Austin, Texas Date Posted: 9/6/2019
Wage: $3293 - $5371 per year Category: Civil Service/Government/Postal
Job Code: req53

Job Description:

Disbursement Specialist


The Teacher Retirement System of Texas is the largest public retirement system in Texas, serving more than 1.5 million people. Innovation, technology, and collaboration make the difference as we strive to continue earning your trust every day. TRS improves the retirement security of Texas public education employees through our 'best in class' investment management and delivery of pension and health care benefits.

Our Mission: Improving the retirement security of TRS members by prudently investing and managing the Trust assets and delivering benefits that make a positive difference in their lives.

The Disbursement Specialist performs moderately complex (journey-level) annuity payroll and refunds work. Work involves disbursing, canceling, and reissuing annuity payments; processing new and revised account information to ensure payment of retirement benefits; and researching and resolving refund problems. May provide guidance to others. Works under general supervision, with limited latitude for initiative and independent judgment.

State Classification: 1571/Program Specialist II/B18

Annuity Payments

Reviews duplicate payment information to determine why duplicates were created, and informs appropriate staff to collect over payments.

Prepares and codes manual vouchers to request or cancel payments to annuitants.

Responds to 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Coordinates statute of limitations and responses, including stop payment requests and re-issuing outdated payments as appropriate.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.

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) system.

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 1099R 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 Comptroller's office, the Attorney General's office, and 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 - 5 %

Required Education:

High School Diploma or equivalent.

Required Experience:

Two (2) years of experience in payroll, accounting, financial analysis, banking, or benefit processing.

Job Criteria:
Start Date:
Position Type: Full-Time Permanent
Years of Experience Required:
Education Required:
Overnight Travel:
Vacation Time:

Contact Information:
Contact Name: Teacher Retirement System of Texas Company Type:
Company: Teacher Retirement System of Texas

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