The ERS Client Reconciliation Team

The ERS Client Reconciliation Team

February 6, 2019

Housed within ERS’ Finance Division, the Client Reconciliation Unit keeps an accurate record of deposits made to the ERS Retirement Trust Fund. It’s a daily task that includes making sure those deposits are reflected in each member’s ERS OnLine account.
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The ERS Client Reconciliation Unit

Because contributions come from agency payrolls—and not every agency runs a payroll on the same day—the number of entries the unit processes each day varies. Smaller agencies may run a payroll once or twice a month, but larger agencies may run as many as 50 or more payrolls in one month. As a result, the unit’s workload varies, but commitment to accuracy remains constant.

The team also reviews TexFlexSM lump-sum payments from COBRA participants and daily funding for TexFlex benefits, as well as for deposits to a supplemental retirement fund for law enforcement and custodial officers and the retirement fund for judges, justices and court commissioners. They also account for “non-contributing” members—those who left state employment, but kept their money in the Trust, where it earns interest.

What’s in a number?

November 2018
141,644—Number of members contributing to the ERS Retirement Trust Fund

$55,710,248.35—Amount contributed

In addition to tracking retirement contributions, the Client Reconciliation Unit ensures members’ accounts accurately reflect the service credit a member earns each month, as well as any service purchases a member might make. This includes working with Texa$aver to assist members in completing their service purchases with rollover funds from their 401(k) or 457 accounts.

August is the month to beat when it comes to processing service purchases. What accounts for the uptick? The fiscal year ends on August 31: when a new fiscal year begins, refunded and military service purchases increase by 10% of the total cost.

The Client Reconciliation Unit’s processes are based on national and state standards for accounting. Unit members want to make sure the information they get is correct for ERS and its members, and that recordkeeping is accurate. “Our commitment to State of Texas workers and taxpayers is our primary motivation,” stated the unit’s supervisor.

Positive perfectionists

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To work in the Finance Division’s Client Reconciliation Unit, it’s important that one be highly organized and detail-focused, as well as able to solve problems and function well as a team player.

It’s a job that requires one to scrutinize rows and rows of numbers every day with an uncompromising commitment to accuracy.

It can be taxing, but working as a team helps ease that stress. The six members of the unit embrace cross training so that, even if a team member is out, the job gets done consistently. The unit’s tasks rotate monthly. As a result, team members can keep up-to-date with processes and the software.

A positive attitude prevails among the team members, who note that they care about each other, the job they do and the members they serve. 

“We realize that what we do is important to our members,” stated the unit’s team lead, adding that people want to come to work when they know the job they do is important.