Staff Accountant
State Universities Retirement System
Accounting & Finance
Champaign, IL, USA
Staff Accountant
Location: Champaign, IL
Job Type: Full-time
Classification: Accounting Associate
Reports to: Chief Financial Officer
SURS is seeking a Staff Accountant as a resource in the finance department, with a focus on tax reporting for SURS benefit recipients.
What You’ll Do
The responsibilities involve preparing, coordinating, and distributing timely and accurate financial, statistical, tax, or qualitative information as needed to SURS employees, external auditors, members, vendors, other designated agencies of the State of Illinois or the U.S. Government, or other persons to ensure SURS remain compliant with relevant laws and regulations.
Main Duties
- Oversight of the SURS Excess Benefit Arrangement (EBA):
- Perform §415(b) eligibility testing for finalized benefit claims
- Coordinate EBA benefit payments/schedules with other SURS departments
- Issue written communications to EBA benefit recipients
- Process monthly and one-off EBA benefit payments
- Record EBA-related journal entries
- Perform annual §415(b) eligibility re-testing for existing benefit recipients
- Prepare Forms W-2 for EBA benefit recipients
- Develop expertise in Internal Revenue Code §415(b) and related regulations
- Answer questions from members and other SURS departments
- Form 1099-R annual preparation
- Reconcile year-to-date benefit payment and withholding data
- Research and fix potential 1099-R errors and inconsistencies
- Coordinate 1099-R preparation responsibilities with multiple departments
- Investigate issues and answer questions from members and other departments
- Form 1042-S annual preparation
- Reconcile year-to-date benefit payment and withholding data
- Research and fix potential 1042-S errors and inconsistencies
- Investigate issues and answer questions from members and other departments
- Preform testing related to areas of responsibility in the new pension administration system scheduled to go live in 2028.
- Other duties as assigned.
Although the main duties of this position focus on taxation, experience with taxes is not necessary if the candidate has a strong accounting background and willingness to learn.
Required Qualifications
- Bachelor's degree with a major in Accountancy or a related field AND two (2) years of professional level accounting experience.
OR - Possession of current registration as a Certified Public Accountant (CPA), Certified Management Accountant, or a valid license to practice Public Accounting (LPA).
OR - Master's degree in Accountancy or a related field.
Preferred Qualifications
- Experience with taxation is helpful but not necessary.
- Certified Public Accountant designation is a plus, but not necessary.
- GAAP and/or GASB accounting experience.
Knowledge, Skills & Abilities
- Ability to research complex accounting, financial, and tax reporting matters.
- Strong problem-solving skills, a curiosity of how systems/processes work, and a desire to improve systems/processes when appropriate.
- Advanced Microsoft Excel skills, including comfort with analyzing and manipulating large data sets.
- Ability to learn new computer systems quickly.
- Self-driven with the ability to work independently as needed.
- Strong time management skills with a deadline-oriented focus.
- Ability to work in a continuously changing environment with numerous filing deadlines.
- Excellent verbal, analytical, organizational, and written skills, including ability to read and write technical material with specific terminology.
Work Environment & Compensation
- Full-time position based in Champaign, IL
- Fully in-office during initial training; potential hybrid schedule available afterward
- The starting salary range for this position is $68,393 - $75,233. This is a competitive salary, taking into consideration experience and internal equity.
- Standard 37.5-hour work week
Benefits That Matter
- State of Illinois insurance benefits including medical, dental, and vision
- Participation in the SURS retirement plan
- Paid vacation, sick leave, and 10 paid holidays
- 2 floating holidays after 6 months
- Paid parental leave after 6 months
- Flexible, professional work environment
- Free parking
- Find more details regarding the benefits SURS offers at: SURS Employee Benefits - SURS
About SURS
The State Universities Retirement System (SURS) administers retirement, disability, survivor, and death benefits for over 255,000 members across Illinois public higher education institutions. Founded in 1941, SURS manages more than $30 billion in assets and is committed to delivering accurate, timely, and compassionate service to members throughout their careers and lives.