Retirement Planning Manager

About The Company

Utah Retirement Systems provides retirement benefits for more than 250,000 Utah public employees, including teachers, firefighters, police officers, and others who serve their communities. URS administers eight pension systems and four retirement savings plans, providing financial security and peace of mind for thousands of Utah families. URS is a dynamic, complex enterprise that requires collaboration from talented employees across a diverse range of fields. We take pride in maintaining a positive team environment and excellent work-life balance. We offer a competitive salary, and our benefits far exceed what most modern employers offer.

Job Description

POSITION SUMMARY

Performs a variety of administrative and management duties related to planning, organizing, training and managing the retirement planning functions of Utah Retirement Systems. Conducts individual retirement planning sessions, financial wellness sessions, agency presentations, webinars and group seminars. Advises officials, members, and unit administrative personnel regarding retirement benefits and financial wellness principles and practices available through Utah Retirement Systems. Provides technical analysis of member retirement and defined contribution programs to facilitate quality retirement planning and program utilization. Assists Retirement Planning Director in coordinating development of communication materials.

ESSENTIAL JOB FUNCTIONS AND DUTIES

• Supervises the day-to-day operations of the Retirement Planning Advisors on assigned team and monitors workflow to assure timely and accurate completion. Conducts quarterly and annual performance reviews. Approves team member monthly expense reports and travel requests.
• Supervises training, sets employee goals, coaches, delegates assignments, coordinates special training, maintains quality control and setting goals and priorities in a timely and efficient manner.
• Meets all team deadlines and responsibilities, develops team members to maximize potential, helps team members meet goals, trains new advisors, and promotes a team atmosphere.
• Makes recommendations to the department Director regarding department budget usage.
• Ensures all direct reports are in compliance with all department standards, including assigned office duties, area management, and internal administrative processes and procedures.
• Assists in the development and accomplishment of advisor goals.
• Assists and makes recommendations to the Director in evaluating worker performance, job retention, advancement, discipline, and discharge. Participates in recruitment and selection process for new hires.
• Trains staff in the laws, rules, regulations, and policies and procedures of the various retirement systems and financial wellness program. Informs staff of board and administration decisions and interprets and communicates effects upon retirement planning, public relations and outreach functions.
• Manages Retirement Planning Advisors’ retirement planning functions. Works with Director to develop processes and procedures designed to enhance efficiency and effectiveness of retirement system and financial wellness outreach and educational efforts.
• Resolves complex issues related to member/URS and participating employer/URS relations.
• Interfaces with other department management to resolve team member and/or URS member issues.
• Researches and monitors law, codes, statutes, and assists Director in writing new procedures as necessary. Evaluates impact of retirement system and financial wellness programs. Maintains current industry knowledge and trends.
• Manages assigned territory/area efficiently and effectively.
• Supervises and presents pre‑retirement, early to mid-career, and retiree programs, as well as financial wellness programs.
• Develops and administers targeted educational and outreach programs.
• Assists in developing written and web-based retirement materials (print, video, webinars, social media, etc.) Monitors effectiveness of informational materials and communication vehicles and makes modifications as appropriate.
• Keeps in regular contact with and surveys active members, employers, and retirees to evaluate the effectiveness of support and outreach programs.
• Promotes services and programs and builds positive public image of URS.
• Conducts individual retirement planning sessions that include providing customized advice and recommendations on:
• Retirement savings plans (401(k), 457, Traditional IRA, Roth IRA).
• Investment options and allocations.
• Tier 1 defined benefit pension payout options including Partial Lump Sum Option (PLSO).
• Tier 2 retirement system options.
• Pension service credit purchasing decisions.
• Other retirement and financial related topics.
• Develops comprehensive retirement planning snapshots for members. This includes calculating members’ retirement income sources (pension, savings plans (401(k), 457, and IRAs), and Social Security) and providing customized recommendations to help them reach their retirement goals.
• Educates, provides, and assists members with:
• Retirement savings plans (401(k), 457, Traditional IRA, Roth IRA). Various investment and retirement planning principles.
• Financial markets, trends, economic indicators, investment concepts and strategies, and the landscape of competitive products and fees/costs available to individual investors.
• Defined benefit retirement systems’ (Tier 1 and Tier 2) benefits and options.
• IRS limitations and rules.
• Social Security concepts and strategies.
• Target Date Fund strategies and the risks and benefits of investing.
• Risk and return characteristics of investment options.
• Quarterly account statements and investment rates of return. Calculates projected account growth and payout stream scenarios using financial calculators and Excel.
• Portability rules to participants with service in multiple defined benefit systems.
• Completing applications for retirement.
• Calculating cost vs. benefit comparisons for PLSO decisions, service purchases, and re-deposits.
• Conducts individual financial wellness sessions providing customized advice and recommendations on:
• Debt management, including debt reduction, refinancing, and payoff prioritization.
• Emergency fund status.
• Cashflow analysis and budgeting.
• Other financial wellness topics.
• Develops financial wellness snapshots for members. This includes calculating existing time to pay off debt and fund an emergency fund. Reviews member household expenses. Provides recommendations for debt reduction and funding an emergency fund.
• Educates, provides guidance, and assists members with:
• Paying off high-interest debt.
• Building up an emergency fund.
• Adjusting member budget expenses to prioritize member financial wellness goals.
• Educates, provides, and assists employers with:
• Consulting to discuss the educational needs, by agency, of the services and provisions administered by URS.
• Enrollment and participation follow-up.
• Compliance for reporting and contribution requirements.
• Resolving retirement related problems and issues.
• Promoting financial wellness benefits.
• Supervises and supports URS retirement planning and financial wellness services administered by staff. Works with Director to establish retirement planning processes and procedures that serve plan participants through discovering investment objectives and creating customized investment strategies that meet participants’ goals.
• Conducts detailed reviews and feedback for new hire retirement-planning documents and financial-wellness documents.
• Conducts ongoing detailed reviews and feedback for team members’ financial-wellness sessions and documents.
• Works with department Director, legal counsel, and compliance department to instill best practices in retirement planning, risk assessment, asset allocation, data collection and storage, financial wellness, and communication.
• Cooperates with consultants and actuaries regarding studies, findings, trends, and practices with potential impact of retirement systems.
• Performs other related functions as required, including the duties outlined in the Retirement Planning Advisor job description.
• Maintains regular and reliable attendance
• Performs other duties as assigned.
• Maintains strict confidentiality.

Required Experience

Education and Experience

Bachelor’s degree in business administration, public administration, public relations, organizational communications, or related field; and five (5) years of URS retirement planning experience or an equivalent combination of education and experience. Must pass the Series 65 Uniform Investment Adviser Law Examination or Series 66 North American Securities Administrators Association within six (6) months of hire.

Specific experience in retirement plans and substantial public speaking and presentation experience is preferred.

Management experience is also preferred.

Certified Financial Planning designation is preferred. Other recognized retirement- and/or investment-industry certifications are desirable.

Knowledge, Skills, and Abilities

This list contains knowledge, skills, and abilities that are typically associated with the job. It is not all-inclusive and may vary from position to position:

Required technical skills include the moderate working knowledge and ability of:

• Microsoft Office Suite.
• Drafting technical reports and documents.

Required mathematical skills include working knowledge of

• Financial services market.
• Investment planning.
• Probability and statistical inference.
• Fractions, percentages, ratios.
• Financial math: calculating present value, future value, internal rate of return, and amortization.
• Conducting cost-benefit analysis to help members make important retirement planning and financial wellness decisions.
• Financial wellness principles.
• Debt ratio guidelines and amortization schedules.
• Emergency fund guidelines.

Required extensive knowledge of

• Purposes, principles, and theory of public retirement systems.
• Retirement laws.
• Financial services market.
• Investment and retirement planning, codes, policies, and guidelines.
• Public Relations concepts and practices.
• Principles of organizational design, supervision, and motivation.

Must possess excellent communication skills

• Communicate effectively verbally and in writing.
• Developing educational materials and PowerPoint presentations.
• Speaking or presenting to small and large groups.
• Communicating with and advising members in one-on-one retirement planning and financial wellness sessions.
• Responding to questions and issues from employers and members in a professional manner.

Must have the ability to

• Conduct public speaking engagements.
• Follow written and verbal instructions.
• Prioritize work.
• Perform within deadlines.
• Work well in a team environment as well as independently.
• Mental application utilizes memory for details, verbal instructions, discriminating thinking, and problem solving.
• Assist retirement planning lead in training new hires.
• Coach all performance areas for team members.
• Maintain effective working relationships with professionals, executives (public and private), department heads, co-workers, and the public.
• Multi-task by handling a variety of duties in a timely and efficient manner.
• Follow through with assignments.
• Deal effectively with stress caused by workload and time deadlines.

The incumbent must always demonstrate judgment, high integrity, and personal values consistent with the values of URS.

Work Environment

Incumbent performs in a typical office setting with appropriate climate controls. Tasks require a variety of physical activities, which involve muscular strain, activities related to walking, standing, stooping, sitting, reaching, taking, hearing, and seeing. Daily duties include lifting of up to 50 lbs. Common eye, hand, finger dexterity required to perform essential functions.

Job duties require travel for office business. Individual must be physically capable of safely operating a vehicle, possess a valid license and have an acceptable driving record based upon data provided by a current Department of Motor Vehicle Record (MVR).