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Advanced/Senior Pension Analyst (Defined Benefit)

Security Mutual Life Insurance Company of New York

(AL / AZ / CT / FL / GA / IA / IL / IN / MA / MN / NC / NJ / NY / OH / PA / TX)

Logo for Security Mutual Life Insurance Company of New York

Department: Security Administrators, Inc.
Status:  Regular, Full Time
Reference #: 1060
No. of Positions: 1

As a Senior Pension Analyst or Advanced Pension Analyst (Defined Benefit), you will be responsible for providing third party pension plan administration services, including regular annual services and periodic compliance reviews. This position will administer higher complexity and specialized plans as assigned. Additionally, as an Advanced Pension Analyst, you  may also provide administration system training and technical support for department staff and create and/or restate plan documents.

SML supports remote work for NY, PA, NJ, CT, MA, AL, FL, TX, OH, MN, IN, GA, IL, IA, AZ and NC. If you are interested in this position, but don’t live near Binghamton, NY, this may be an opportunity for you!

Description of Duties & Responsibilities of a Senior Pension Analyst (Defined Benefit):

  • Complete annual DB funding valuations; determine eligibility, reconcile trust assets, compute minimum required and maximum allowable contributions using commercial plan administrative software.
  • Complete non-discrimination testing for all assigned plans.
  • Complete 5500 forms and prepare SAR/AFN for assigned block of plans.
  • Prepare annual benefits statements for participants.
  • Process participant loan requests. Calculate maximum loan amounts and review for compliance with applicable regulations. Review loan repayment checks through investment company statements.
  • Calculate benefit distributions, including minimum required distributions. Prepare required election, disclosure, and 1099-R forms.
  • Monitor plan and prepare document restatements, plan amendments, and summary plan descriptions as needed. Ensure plan document is compliant with current laws and regulations and meets client objectives.
  • Process plan terminations as required; prepare termination amendments, board resolutions, 204(h) notices with the IRS and Pension Benefit Guaranty Corporation. Review amendments to ensure compliance with current regulation before plan is terminated.
  • Input time for each task through PensionPro.

Additional description of Duties & Responsibilities of an Advanced Pension Analyst (Defined Benefit):

  • Prepare annual benefits statements for participants. Complete non-discrimination testing and other required testing, 5500/government forms, and SAR/AFM for all plans assigned.
  • Create or restate plan documents for new and take over clients as needed. Interface with various qualified plan investment companies to arrange and systemize plan related data transfer to and from SAI.
  • Provide training and technical support for administration systems as needed. Interface with help desk staff to resolve and issues. Monitor new product releases for administrative systems and present for consideration by SAI management as required.

Required skills & Experience of a Senior Pension Analyst or Advanced Pension Analyst (Defined Benefit):

  • For a Senior Pension Analyst level, between 5 to 7 years of related experience required.
  • For an Advanced Pension Analyst, a minimum of 7 years of related experience required.
  • Knowledge of Relius pension software required
  • Basic proficiency with Microsoft Word and Excel required.
  • Pursing ASPPA QPA is a plus.
  • Strong written and verbal communication skills.
  • Strong customer service skills.
  • Ability to think analytically and critically.
  • Ability to handle multiple priorities simultaneously.
  • Ability to pay close attention to detail.
  • Ability to prioritize and organize a heavy workload.
  • Ability to adapt to change and work under pressure.
  • Ability to learn quickly and take on increasing responsibility.

Education Required: Bachelor’s degree in Accounting or a related field of study required. Commensurate experience will be considered in lieu of a Bachelor’s degree.

Pay Range:

Senior Pension Analyst: $24.32 to $31.29 hourly
Advanced Pension Analyst: $58,500 to $80,000 Annually

The starting pay rate for this role is based on a variety of relevant factors, including location, education, experience, and skills.

The level for this position will be determined based on factors including relevant skills, experience and other qualifications.

  • Visa sponsorship is not available for this position
  • Relocation assistance is not available for this position
  • Security Mutual is an Equal Opportunity Employer

Federal & State Labor Law Posters

How to Apply

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Security Mutual Life Insurance Company of New York has trusted BenefitsLink to help reach qualified candidates for this opening.

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