Actuary - Cash Balance Plans/Retirement Plans

Alerus • National (Remote), MN

1d • Onsite

About The Position

The Cash Balance Actuary assists the sales team with the design and communication of technical ERISA aspects of Cash Balance, Defined Benefit, and Defined Contribution plans. This role produces and presents projections for new business proposals based on input from prospects and sales consultants. The actuary will be able to explain Defined Benefit and Cash Balance funding strategies, PBGC and non-PBGC plans, limits and minimums, plan adoptions, and any new legislation. This position also manages a book of existing and newly implemented clients, including data review, testing, valuation preparation, and required government and regulatory filings.

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

Responsibilities

• 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.

Benefits

• Competitive compensation including base salary, bonus and/or incentive opportunities.
• 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: Associate degree