About this role
General Summary
For more than 50 years the SAG-AFTRA Health Plan and SAG-Producers Pension Plan (the Plans) have provided health and retirement benefits to thousands of entertainment professionals and their dependents across the globe. The Plans are currently undergoing a major transformation focused on evolving our operations toward a participant-inspired experience.
The Pension Benefit Payment Coordinator supports the accurate and timely distribution of pension benefit payments to retirees, beneficiaries, and alternate payees. Reporting to the Supervisor, Pension Operations, you'll review new benefits, amendments, terminations, suspensions, and levies before payments are released; process check and electronic funds transfer (EFT) transactions; balance monthly pension payroll reports; and compile the reporting that supports external auditors and annual tax filings. This role works closely and continuously with Accounting, coordinating on monthly reconciliations, check registers, wire transfer detail, and year-end tax reporting. Working alongside Pension Benefits Specialists, IT, and the payment vendor, you'll help safeguard payment accuracy through the adoption of a new in-house pension benefit administration system. Join our hybrid workplace to support a service-oriented, high-performing team in our pension and welfare plan services.
Essential Job Responsibilities
Payment Processing and Operations
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• Reviews new pension benefits, benefit amendments, terminations, suspensions, and levies for accuracy and alignment with plan rules and established procedures, escalating exceptions and unusual cases to the Supervisor for resolution before payments are released.
• Reviews all data relative to the distribution of pension checks, including new retirees, beneficiaries, lump sum death benefits, adjustments, retroactive checks, and early retiree return-to-work suspension of checks.
• Processes levies, direct bank deposits, special tax inserts for new retirees, special letters for multiple checks, termination of beneficiary and final beneficiary payments, address changes, and EFT updates.
• Processes EFT issues, including EFT stop payments, reversals, reclamations, and cancellations, coordinating with the payment vendor to resolve items within required timeframes.
• Works with Accounts Payable to handle check processing issues including cancellations, reissues, stale-dated and unclaimed benefits in accordance with plan procedures and applicable escheatment requirements.
• Generates the check print file, forwards it to IT for printing, and reviews printed checks for accuracy prior to mailing.
• Maintains documentation of payment transactions and review records to support data integrity, compliance, and research of pensioner inquiries.
Reporting and Reconciliation
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• Updates and balances the various pension monthly payroll reports, researching and resolving variances in advance of the first-of-month payment cycle.
• Completes various reports and forwards them to Accounting for processing, such as the 1042 report, Pension Check Register, and Wire Transfer Report.
• Works closely with Accounting to reconcile pension payment activity, providing the payment totals and supporting detail Accounting needs to fund the payroll and execute wire transfers, and researching discrepancies ahead of month-end close.
• Compiles data and supporting documentation requested by outside accountants and auditors for the audit of the pension plan, working under the direction of the Supervisor.
• Supports the annual review of 1099-R and 1042 processing, and works with Accounting to prepare amended 1099-Rs, as needed.
Collaboration and Client Support
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• Coordinates with Accounting on pension payment matters throughout the monthly payment cycle, year-end tax reporting, and the annual audit, keeping the Supervisor informed of open items.
• Partners with Pension Benefits Specialists to research payment discrepancies, eligibility questions, and data issues affecting the monthly payment cycle.
• Responds to pensioner and beneficiary inquiries regarding payment amounts, tax withholding, deposits, and check delivery, referring complex or sensitive matters to the Supervisor.
• Participates in testing of payment workflows alongside internal IT, development teams, and the payment vendor, validating output and reporting defects during and after adoption of the in-house pension benefit administration system.
• Communicates clearly with staff, leadership, Accounting, and external partners, escalating risks to payment accuracy or timing promptly.
• Commitment to staying current on regulatory changes and advancements in pension administration technology.
• Working knowledge of basic accounting and reconciliation concepts, with the ability to collaborate effectively with Accounting through month-end close.
Self and Strategic Contribution
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• Instills trust by modeling accountability, following through on commitments, and maintaining strict confidentiality of pensioner and financial data.
• Stays informed on pension regulations, IRS withholding and reporting requirements, escheatment rules, and in-house system capabilities to enhance payment accuracy.
• Suggests opportunities to streamline payment, reconciliation, and reporting processes, and flags procedures that need updating.
• Takes on challenges with urgency and a solutions-oriented mindset, particularly during system implementation, year-end tax reporting, and audit periods.
Minimum Qualifications
• 3 years of experience in pension payment processing, benefits administration, payroll, or a related financial operations function, with hands-on responsibility for processing payments and reconciling accounts.
• Proficiency in Microsoft Office, with strong Excel skills (lookups, pivot tables, reconciliations) for payment tracking and reporting.
• Demonstrated accuracy and attention to detail in a high-volume, deadline-driven payment or reconciliation environment.
Preferred Qualifications
• Associate's or Bachelor's degree in business, accounting, finance, or a related field.
• Working knowledge of pension administration rules, ERISA and IRS regulations, tax reporting (1099-R, 1042), QDROs, levies, and beneficiary payment rules.
• Experience in pension payment processing or benefits administration.
• Experience with EFT processing, including stop payments, reversals, reclamations, and cancellations.
• Experience with pension administration or financial operations systems, including testing or supporting a system implementation
• Experience supporting external audits or preparing audit schedules and supporting documentation.
• Ability to learn actuarial and legal terminology related to pension plans and benefit calculations.
• Strong analytical and problem-solving abilities to research payment discrepancies and reconcile reporting.
• Excellent organizational skills and the ability to manage competing deadlines against a fixed monthly payment cycle and annual reporting calendar.
• Clear written and verbal communication skills for working with pensioners, internal teams, vendors, and auditors.
• Sound judgment and discretion in handling confidential financial and personally identifiable information.
Competencies
• Customer Focus – Gains insight into customer needs; identifies opportunities that benefit the customer; builds and delivers solutions that meet customer expectations; establishes and maintains effective customer relationships.
• Decision Quality – Makes sound decisions, even in the absence of complete information; relies on a mixture of analysis, wisdom, experience, and judgment when making decisions; considers all relevant factors and uses appropriate decision-making criteria and principles; recognizes when a quick 80% solution will suffice.
• Ensures Accountability – Follows through on commitments and makes sure others do the same; acts with a clear sense of ownership; takes personal responsibility for decisions, actions, and failures; establishes clear responsibilities and processes for monitoring work and measuring results; designs feedback loops into work.
• Communicates Effectively – Is effective in a variety of communication settings: one-on-one, small and large groups, or among diverse styles and position levels; attentively listens to others; adjusts to fit the audience and the message; provides timely and helpful information to others across the organization; encourages the open expression of diverse ideas and opinions.
• Instills Trust – Follows through on commitments; is seen as direct and truthful; keeps confidences; practices what he/she preaches; shows consistency between words and actions.
Physical requirements
The physical demands are representative of the physical requirements necessary for an employee to successfully perform the essential functions of the position. Reasonable accommodation can be made to enable people with disabilities to perform the described essential functions. A request for a reasonable accommodation should be made in writing and delivered to HR.
Notice
SAG-AFTRA Health Plans and SAG-Producer Pension Plans provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
If you are a qualified candidate with an arrest or conviction record, please know that your application will be considered in accordance with LA county local ordinances.