This hourly (non-exempt) position is a senior-level position which specializes in the design and administration of
approximately 600 retirement plans that range up to 3,000 participants for small to medium-sized businesses that are primarily located within the Midwest.
Duties & Responsibilities:
Compile, review and interpret plan documents
and trust financial statements
Reconcile census data and calculate years of service for eligibility and vesting.
Process actuarial valuations for larger and more complex clients.
Calculate employer contributions and premium payments
payable to Pension Benefit Guaranty Corporation.
Prepare and process distribution packages for terminated, retired or deceased plan participants.
Perform annual testing to demonstrate satisfaction of coverage and non-discrimination
Complete required governmental reporting forms (including but not limited to 1099-R, 945, 5500, Schedule SB, 5330, 8955-SSA).
Prepare documents for plan termination (including but not limited to Form 5310, PBGC Form 500, PBGC
Form 600, participant disclosure and election forms).
Prepare annual notices to participants.
Develop and maintain knowledge of retirement plan legislation and possess extensive knowledge of ERISA laws and regulations.
amount available for loans and process loan paperwork.
Prepare reports for financial statements and review work prepared by other staff members.
Communicate directly with clients and their professional advisors, as well as external auditors
regarding plan audits.
Consult with client on plan administration.
Recommend and discuss plan design changes with relationship manager.
Manage time to assure work is completed within the firm’s guidelines.
client in locating missing participants.
Communicate with prior TPA, investment advisor and client on takeover plans.
Assist in the training of technical staff.
Bachelors degree in Mathematics,
Actuarial Science, or Economics preferred.
Completed courses from American Society of Pension Professionals and Actuaries a plus
5 years experience with qualified traditional and cash balance defined benefit plans
Experience working with single employers with less than 500 participants a plus.
Strong working knowledge of ERISA and subsequent pension laws.
Strong attention to details with excellent organization skills.
communications with Department of Labor, Internal Revenue Service, and Pension Benefit Guaranty Corporation regarding qualified plan issues a plus.
Strong written and communication skills.
Ability to present technical topics in a clear,
Advanced experience with Microsoft Word and Excel.
Experience with ASC or other commercial pension system.
Travel requirements are as needed, on a local basis.
Typical hours are Monday - Friday
8:00am to 5:00 pm. Additional hours required for special projects as needed.
First American Bank is an Equal Opportunity Employer (Minorities / Females / Disabled / Veterans).