Serve as an expert in the valuation, administration and compliance of Defined Benefit and Cash Balance plans. Additionally, serves as a resource to plan sponsors and financial advisors for matters related to ERISA compliance, plan design and governmental reporting
Job Functions, Essential Duties and Responsibilities
Responsible for protecting, securing, and proper handling of all confidential data held by Ascensus to ensure against unauthorized access, improper transmission, and/or unapproved disclosure of information that could result in harm to Ascensus or our clients.
Our I-Client service philosophy and our Core Values of People Matter, Quality First and Integrity Always should be visible in your actions on a day to day basis showing your support of our organizational culture.
Assist with other tasks and projects as assigned
Provide superior customer service, including problem solving with minimal inconvenience to clients
Provides effective and timely verbal and written communications in a concise and informative manner
Guide and mentor actuarial analysts
Draft actuarial valuation and plan record keeping for assigned clients
As needed, complete Pension Benefit Guaranty Corporation forms for determining premium payments required to comply with PBGC regulations
Review and certify funding valuations
Formulate and process benefits calculations and projected benefit estimates
Assist clients with all initial and ongoing plan design and document support including aligning their DC and DB plans and review of plan provisions to analyze plan compliance
Effectively partners with Pension Administrators / Consultants to complete annual plan work including but not limited to Form 5500, distributions and reporting and collection of census
Maintains up-to date knowledge of present legislation and proposed legislative changes with regard to ERISA law through self study and company-sponsored training sessions and uses this knowledge to update clients with respect to implications and/or opportunities that legal or regulatory changes will have on their retirement plans
Reviews or performs, as needed, the annual testing for plans, including Top Heavy, 410(b), 415, 401(a)(4) and 404 deductibility
Assists with annual and regulatory plan audits with an ability to effectively communicate with the plan sponsor, auditor and IRS or DOL
Coordinate with all applicable parties, both internal and external, to ensure accurate conversion process for new clients
Experience, Skills, Knowledge Requirements
Bachelors degree in actuarial science, math or math related field
Minimum 5 years experience in the pension industry
Enrolled Actuary designation
Experience with small plan DB and Cash Balance plans; experience with combined-plan compliance testing desirable
Excellent analytical and communication skills
Demonstrated expertise with Microsoft and valuation applications
Demonstrated technical proficiency
Strong attention to detail and the ability to prioritize, manage tasks and meet deadlines in connection with business operations, including related ERISA compliance matters
Ability to effectively plan and assign work
Excellent client relationship skills
We are proud to be an Equal Opportunity Employer
Ascensus is a place to have a career, not just a job. As the largest US independent retirement and college savings services provider, we put our focus on people. Our culture is guided by sound principles, is committed to high standards, operates with transparency, and welcomes diversity. When you join our team, you get to go to work every day knowing that you help over 10 million Americans save for retirement and college.
Ascensus provides equal employment opportunities to all associates and applicants for employment without regard to ancestry, race, color, religion, sex, (including pregnancy, childbirth, breastfeeding and/or related medical conditions), gender, gender identity, gender expression, national origin, age, physical or mental disability, medical condition (including cancer and genetic characteristics), marital status, military or veteran status, genetic information, sexual orientation, criminal conviction record or any other protected category in accordance with applicable federal, state, or local laws ("Protected Status").