Executive Service

Who we are and what we do:

The Tennessee Department of Treasury impacts the lives of Tennesseans every day. Treasury is responsible for many of the financial operations of state government, including managing more than $100 billion in assets through its various investment programs. We administer and invest the State's Retirement Program, RetireReadyTN, which combines the state pension plan, Tennessee Consolidated Retirement System, and the State's Defined Contribution plans. Treasury serves all Tennesseans by helping to educate and empower them to make smart financial choices, and by providing public-serving programs in the areas of college savings, financial literacy, unclaimed property, risk management, criminal injuries compensation, and more.

Job Overview:

Under the general supervision of the deferred compensation manager, assistant director, and director, the deferred compensation specialist is responsible for executing and supporting administrative tasks of the State of Tennessee deferred compensation programs, which collectively have over 260,000 participants and $12 billion in assets.

The Tennessee Deferred Compensation Plans are:

• The State of Tennessee 401(k) Plan
  
• The State of Tennessee 457(b) Plan ' The Optional Retirement Program (401(a))
  
• The University of Tennessee and Tennessee Board of Regents 403(b) Plans
  
• The State of Tennessee Length of Service Award Program (LOSAP) for Volunteers

Each plan is offered in partnership with one or more third party administrators (TPA), and there are currently three (3) TPA's in total. Plan participants may be eligible for or participants in multiple State deferred compensation or other retirement plans, including the Tennessee Consolidated Retirement System (TCRS) defined benefit plan. The deferred compensation specialist works collaboratively with personnel from each TPA, the Financial Empowerment Division, and other divisions within Treasury to accomplish tasks.

Key Responsibilities:

• Collect, organize, and analyze data from all TPA reports related to plan participation, assets, contributions, participant outreach and communications, participant actions, and employer adoption of deferred compensation plans.
  
• Work with TPA's, other Treasury Divisions, and employers to ensure the employment status and retirement plan enrollment of all participants is reported correctly
  
• Audit monthly employer reporting to the 401(k) and 457(b) deferred compensation plans by comparing TPA and TCRS Concord data. Create monthly audit reports and coordinate with
• Coordinate with all deferred compensation plan TPA's to obtain complete, accurate, and timely data collection and metrics tracking for all deferred compensation plans within needed
• Assist with the preparation of monthly deferred compensation metrics reports to send to Treasury senior leadership.
  
• Assist with the local government 401(k) and 457 plan adoption process, including the maintenance of adoption inventory spreadsheets, preparation of fee comparisons for prospective
• Assist TCRS employer reporting staff with determining retirement plan eligibility questions that involve deferred compensation plan enrollment.
  
• Maintain excellent working knowledge of plan documents, policies, and procedures for each of the six (6) State of Tennessee deferred compensation plans.
  
• Maintain proficiency in using each of the five (5) TPA plan sponsor portals to access participant information and needed plan reports.
  
• Assist with the continued development and refinement of key metrics for State deferred compensation programs

Minimum Qualifications:

• Bachelor's degree from a four-year college or university
  
• Strong proficiency and experience in Microsoft Excel, PowerPoint, and Word

Preferred Qualifications:

• Experience with employer-based deferred compensation plans (401(k), 457(b), 401(a), 403(b)), finance, or related field

Pursuant to the State of Tennessee's Workplace Discrimination and Harassment policy, the State is firmly committed to the principle of fair and equal employment opportunities for its citizens and strives to protect the rights and opportunities of all people to seek, obtain, and hold employment without being subjected to illegal discrimination and harassment in the workplace. It is the State's policy to provide an environment free of discrimination and harassment of an individual because of that person's race, color, national origin, age (40 and over), sex, pregnancy, religion, creed, disability, veteran's status or any other category protected by state and/or federal civil rights laws.