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Alerus

Banking :: Wealth :: Retirement

Actuary – Cash Balance Plans, Retirement Plans

ActuaryActuaryFull TimeRemoteLeadTeam 501-1,000Since 1879H1B No SponsorCompany SiteLinkedIn

Location

Arizona + 2 moreAll locations: Arizona | North Dakota | Minnesota

Posted

3 days ago

Salary

$120K - $160K / year

Seniority

Lead

Bachelor Degree10 yrs expEnglish

Job Description

Actuary – Cash Balance Plans, Retirement Plans

Alerus

• Assist sales team with design and communication of technical ERISA aspects of Cash Balance, Defined Benefit, and Defined Contribution plans • Produce and present projections for new business proposals based on input from prospects and sales consultants • Explain Defined Benefit and Cash Balance funding strategies, PBGC and non-PBGC plans, limits and minimums, plan adoptions, and any new legislation • Manage a book of existing and newly implemented clients, including data review, testing, valuation preparation, and required government and regulatory filings • Utilize analytical software to review employee census data, existing 401(k) and Profit Sharing plan documents, and ownership data to design a Defined Benefit, Cash Balance, and/or 401(k)/Profit Sharing plan that fulfills the client’s desires and objective while also complying with all the various limitations, coverage, and nondiscrimination testing requirements found in ERISA • Identify and implement changes and/or amendments needed to plan documents to address client needs and/or resolve client requests • Monitor receipt of client’s census information to prioritize completion of annual reporting requirements • Coordinate and assist administrators with timely completion of discrimination compliance testing • Provide input and guidance to colleagues assigned to administration for both a 401(k) and cash balance or defined benefit plan • Provide internal training to Alerus Sales and Administration Staff

Job Requirements

  • Bachelor’s degree or equivalent related experience as an enrolled actuary approved by the Joint Board for the Enrollment of Actuaries in Active Status
  • 10+ years of experience in complex defined contribution plan administration such as non-qualified plans, cross testing allocations, and other unique plan designs
  • Member of American Academy of Actuaries, Society of Actuaries and/or the American Society of Pension Professionals & Actuaries
  • Possess ASPPA’s MSEA certification or equivalent
  • Ability to perform all aspects of retirement plan compliance testing and allocations with minimal review
  • Ability to prioritize tasks, manage multiple projects, and meet deadlines in a fast-paced environment
  • Excellent written/oral communication, organization, and client service skills required
  • Maintain professional working relationships with internal and external clients
  • Work independently and set priorities
  • Excellent analytical and problem-solving skills with a high level of attention to detail
  • Advanced knowledge of Microsoft Word and Excel

Benefits

  • Comprehensive benefits package providing a wide range of health and well-being benefits, including medical, dental, vision, life and long-term disability insurance
  • 401(k) and ESOP for retirement savings
  • Generous paid time off programs such as flexible time off, company-paid holidays, parental and bereavement leave
  • Learning and development resources for personal and professional career development, and advancement opportunities
  • Access to financial experts for guidance, financial wellness tools, and discounts on Alerus products and services
  • Support for the communities we live in through paid volunteer time and a company donation match opportunity

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