Banking :: Wealth :: Retirement
Actuary – Cash Balance Plans, Retirement Plans
Location
Arizona + 2 moreAll locations: Arizona | North Dakota | Minnesota
Posted
3 days ago
Salary
$120K - $160K / year
Seniority
Lead
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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