The Disbursement Specialist is responsible for reviewing payments and processing account information for TRS members. The incumbent will disburse, cancel, and reissue annuity payments, process new and revise account information to ensure payment of retirement benefits, and research and resolve payment issues. This position will proactively work with the Benefit Processing team, Disbursements team, Benefit Services staff, and agency employees.

The Disbursement Specialist Senior is responsible for annuity payroll and refunds work. The incumbent will coordinate the monthly annuity payroll, research and resolve payroll and payment issues, assist with disbursing payments, and serve as a communications liaison with internal and external contacts. This position will proactively work with the Benefit Accounting team, Benefit Services staff, and agency employees.

This is a Hybrid position and requires at least 2 days of onsite work a week conducted at our TRS office in Austin, TX during training period (approximately 6 months). After training, one assigned day a week will be onsite work. 

Vacancy will be filled at one of two levels – Disbursement Specialist OR Disbursement Specialist Senior. Selected applicant will be offered the position that most closely matches their education and experience. Click here for opportunity details

Multiple positions available.

Salary Range
Disbursement Specialist: $50,000 – $58,700 annually
Disbursement Specialist Senior: $56,000 – $66,500 annually

WHAT YOU WILL DO:

Disbursement Specialist 

Annuity Payments
• Conducts extensive research in each case scenario to ensure appropriate and correct actions are taken.
• Reviews and processes automated and manual annuity payrolls in compliance with applicable regulations, policies, and procedures.
• Maintains appropriate disbursement processing controls and assists with setups of deductions, garnishments, voluntary deductions, Tax Withholding Allowance Certificates (W-4Ps), and direct deposits, including returned monies and payment cancellations.
• Distributes benefit checks and statements of earnings and deductions.
• Reviews duplicate payment information to determine why duplicates were created and assists in preparing affidavits or statements necessary to inform appropriate staff to collect overpayments.
• Prepares and codes manual vouchers to request or cancel payments to annuitants.
• Responds to phone, email, and written 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.
• Communicates and coordinates with other agency staff and external entities to research, explain, and/or resolve complex annuity payroll issues and problems.
• Posts or maintains office operating records or controls on disbursement payments, report creation, and posting procedures.
• May conduct on-the-job training sessions.

Examining, Updating, and 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).
• 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 1099-R and 1042-S 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.

WHAT YOU WILL BRING:

Required Education
• High School Diploma or equivalent.
• Education and experience may substitute for one another.

Required Experience
• Three (3) years of full-time directly related, progressively responsible experience in payroll, accounting, financial analysis, banking, or benefit processing or related experience.
• Five (5) years of full-time directly related, progressively responsible experience in payroll, accounting, financial analysis, banking, or benefit processing or related experience. (Senior)

Preferred Qualifications
• Associate’s or Bachelor’s degree from an accredited college or university in accounting, business, finance, or a related field.
• Experience in reviewing governmental, legal, or financial documents.
• Experience with Automated Clearing House (ACH) and/or other related banking transactions.
• One (1) year of experience in Benefits Disbursements, Benefit Processing, or closely related experience interpreting and applying TRS Benefit rules, policies, and procedures. (Senior)

View opportunity details and apply online: https://trs.csod.com/ux/ats/careersite/5/home/requisition/1040?c=trs