Staff Actuary for Defined Benefit Retirement Plans
Position Purpose:
The Consulting Actuary role is unique in its focus on overseeing IRS-qualified Cash Balance Defined Benefit combo plans, particularly in the small plan market. This position requires a strong emphasis on providing actuarial expertise and strategic guidance to our administrative team, supporting plan design and compliance, utilizing strong analytical skills, clear communication, and the ability to build effective client relationships.
Essential Duties and Responsibilities:- Manage recurring actuarial projects and deliverables for assigned clients.· Accurately interpret and apply plan document provisions.· Ensure compliance with IRS, DOL, and PBGC requirements.· Review annual compliance testing for assigned clients (401(a)(4), 410(b), plan limits, top heavy, for both stand-alone and DB/DC combo plans).· Certify actuarial valuations for traditional defined benefit and cash balance plans.· Perform and review Required Minimum Distribution (RMD), benefit calculations, including optional forms of payment.· Prepare proposals for potential Cash Balance and Defined Benefit clients; your technical expertise is crucial in supporting the sales team and securing new business.· As a Staff Actuary, you will play a crucial role in supporting retirement plan implementation, conversion, de-conversion, and termination processes, ensuring a seamless transition for our clients.· Review and sign actuarial valuations, Schedule SBs, PBGC premium filings, and other actuarial certifications for assigned caseload.· Serve as a subject matter expert in Cash Balance and Traditional Defined Benefit combo plan compliance testing and consulting.· Lead special technical actuarial consulting projects as assigned, providing you with the opportunity to demonstrate your expertise and contribute to the growth of our team.· Collaborate with internal teams (New Business, Sales, and Administration) to improve efficiency and accuracy in actuarial and proposal processes, fostering a sense of teamwork and shared success.· Provide guidance and technical support to actuarial staff and colleagues on complex plan design or compliance issues.
Minimum Requirements:- Bachelor’s degree or comparable work experience.· EA (Enrolled Actuary) designation required· Expert knowledge of combo plan testing and PPA funding valuation rules, including minimum and maximum funding requirements, 401(a)(26), 415, 410(b), Top Heavy, and 401(a)(4) nondiscrimination testing.· Proficient with small plan actuarial calculations and combined nondiscrimination testing.· Strong understanding of the annual lifecycle of a plan, including data collection, eligibility, compliance testing, and trust accounting.· High proficiency with Microsoft Office applications.· Ability to analyze complex situations and develop practical solutions.· Demonstrated excellence in written and verbal communication.· Strong attention to detail with proven organizational skills.· Practical time management skills with the ability to consistently meet deadlines in a fast-paced environment.· As a Staff Actuary, you will play a key role in contributing to the ongoing improvement of actuarial processes and procedures, ensuring our team operates at the highest level of efficiency and accuracy.· Serves as a Cash Balance actuarial resource for internal teams and administrators.
Compensation: Based on Experience
Schedule:- 8-hour shift
- Monday to FridayWork Remotely·
YesEducation:·
High school diploma or GED required·
Bachelor’s degree preferred Experience:·
3+ years’ experience with preparing and/or reviewing actuarial valuations and combo compliance testing·
Proficiency in actuarial valuation software required; ASC valuation software preferred·
Broad knowledge of the retirement plan industry·
EA (Enrolled Actuary) designation required·
One or more ASPPA and/or ERPA designations preferred·
ASA (Associate of the Society of Actuaries) designation preferred·
MAAA (Member of the American Academy of Actuaries) designation preferred
