Actuarial Analyst - Combo Plans

Description

Why join our team at Definiti? If you enjoy tackling challenges and believe in delivering exceptional client service, Definiti may be perfect for you. You can make a difference by helping to improve and secure many retirements, while also helping to grow a dynamic organization. Most roles are fully remote, so you need to be comfortable using technology, be productive in a home office with a reliable internet connection to stay in touch with your team and deliver high-quality service to our clients. Definiti supports your professional growth through comprehensive training and industry credentials and certifications.

Definiti is a national retirement services company that helps clients manage and administer their retirement plans. We help clients define what's possible and what’s next for their retirement plans.

PURPOSE OF POSITION

The Actuarial Analyst requires experience working with small market Cash Balance/Defined Benefit/401(k) Combo plans. The primary focus will be on cash balance pension plans with less than 100 participants that are tested in combination with a defined contribution plan. You will be working closely with a team of enrolled actuaries and direct client relationships with clients is expected. 

PRIMARY DUTIES AND RESPONSIBILITIES

· Request, organize, and review Plan & Participant data

· Review & Reconcile Plan Asset Data

· Review Plan document and establish plan specifications within the ASC valuation system

· Prepare Annual Valuations in ASC for review and approval by Actuary

· Perform CB/401(k) Combo Annual IRS Coverage and Non-Discrimination testing (401a4, 410b, 401a26)

· Preparation of benefit calculations for terminated/retiring participants including calculation of optional forms of payment

· Plan Termination calculations for PBGC and non-PBGC covered Defined Benefit Plans

· Monitor and prepare Required Minimum Distribution calculations

· Prepare Government Form 5500s, Schedule SB, PBGC premium filing, 8955-SSA

· Complete Cash Balance/Defined Benefit Plan Projections upon request

· Work closely with RPC (Retirement Plan Consultant) to service case of Cash Balance/401k Combination Plans.

Requirements

COMPETENCIES REQUIRED

· Proficient in CB/401k Combo Plan Cross Testing

· Proficient with ASC Valuation system

· Demonstrated excellence in written and verbal communication

· Must be detailed and possess strong organizational skills

· Time management focused adhering to deadlines and timelines

· Team Oriented with experience interacting with vendors, clients, advisors and coworkers

· Ability to analyze complex Cash Balance & Defined Benefit Plan issues and provide solutions

· Ability to work independently and as part of a team in a fast-paced environment

· Ability to maintain data entry accuracy while multitasking and focusing on meeting deadlines

EDUCATION AND QUALIFICATIONS

· High school diploma or GED required

· 3+ years of experience with the administration of CB/DB/401k Combo Plans

· Experience with ASC Software System or FT Williams highly preferred; would consider experience with Relius or Datair

· Experience with Pension Pro is preferred

· Experience with StaxAI preferred

· ASPPA Designations preferred

REMOTE WORKING REQUIREMENTS

As a remote-first company, we have compiled expectations for a successful remote work environment:

• Ability to build rapport with others remotely while working productively with limited in-person interaction
• Have access to a reliable and consistently strong, high-speed internet connection suitable for remote work. A stable, high-speed internet connection is essential for effective communication, collaboration, and productivity while working remotely
• Designate a quiet, and well-lit space free of as many distractions as possible
• Be online and available to work during designated business hours in local time zone
• Accustomed to using Microsoft Teams (or similar virtual-meeting applications) to meet with colleagues regularly on video and use the chat feature for quick communications. We utilize many Microsoft Teams features (such as Channels and file storage) for announcements, relevant conversations, and file sharing. Familiarity with Microsoft Teams is a plus
• Accustomed with file-storage and file-sharing tools such as Microsoft SharePoint

BENEFITS

Definiti has a dynamic, growth-focused culture, and we are committed to offering attractive employee-centric benefits, including:

• A virtual-first work philosophy for most jobs
• 401(k) with up to 4% match
• Flexible PTO allows you to take the time you need for wellness, vacations, and personal matters. We foster a trusting environment where employees manage their workloads responsibly. Time off doesn’t accrue.
• 12 paid holidays, 2 paid floating holidays, and your birthday is a holiday
• Paid Parental Leave
• A variety of medical, dental and vision plan options including Definiti subsidized premiums
• Company-paid life insurance and short-term disability insurance
• Bonus plan eligibility