Security Administrators, Inc. handles retirement plan design and administration, helping employers to
tailor plans to meet their business needs, including attracting and retaining talent. Employing actuaries as well as Pension Analysts, SAI specializes in designing customized defined benefit pension and defined contribution plan solutions. Security
Administrators, Inc. is a subsidiary of Security Mutual Life with offices in Binghamton, New York and Syracuse, New York.
Description of duties & responsibilities: The purpose of this position is to provide third party defined
benefit qualified plan administrative services for employers who contract with SAI. Services provided include normal annual administrative services, as well as periodic review for compliance with regulations.
Complete annual valuations for
plans assigned, and communicate with plan sponsor and advisors.
Determine eligibility, reconcile trust assets, input data into administration software to calculate benefits and funding requirements.
Complete Form 5500 filings, prepare
Annual Funding Notices (or SAR’s) and complete electronic filing through EFAST.
Calculate PBGC premiums, prepare annual filing forms for review and file forms electronically with PBGC.
Calculate accrued benefits with optional forms
and prepare distribution forms for terminated and retired participants.
Prepare required election and disclosure forms, calculate Required Minimum Distributions and prepare and submit 1099R forms.
Prepare plan document restatements
and plan amendments. Review plan to confirm that it meets client objectives.
Process plan terminations, including preparation of termination amendments, resolutions and notices. Prepare final calculation of benefits owed to each participant and
complete IRS filings when requested.
Prepare and submit time sheets daily.
Maintain work control spreadsheet for assigned block of plans.
Required skills & experience:
Minimum 5 years’
experience in plan administration for small to medium sized plans required.