Defined Benefit Plan Consultant / Actuarial Analyst

Sentinel Group•Wakefield, MA

2d•$60,000 - $75,000•Remote

About The Position

The Defined Benefit Plan Consultant position is for retirement plan professionals who are passionate about client service and defined benefit plan administration. This position is customer service focused! The role serves as the primary point of contact for a dedicated book of clients, overseeing the administration of defined benefit and cash balance retirement plans. The role is responsible for delivering day-to-day client support, communicating plan information clearly and ensuring plan compliance through the performance of actuarial valuations, preparation of valuation reports, and execution of regulatory compliance testing. We are looking for a customer-focused consultant who can take the complex world of retirement plan administration and communicate it clearly and effectively to customers. You are detail-oriented with the ability to work in a fast-paced environment managing multiple priorities and meeting deadlines. The benefits industry is forever changing, and we want someone who is flexible and willing to embrace that change. Joining our company means becoming part of something special. We're driven by a mission to excel in our industry and within our team, supported by people who truly care about our organization. Sentinel Group proudly serves nearly 5,000 clients throughout the U.S. For 35+ years, we’ve remained devoted to positively impacting the lives of our people, our clients and our communities. With a 9-year average associate tenure among our 265 professionals, our team’s commitment to excellent service has positioned Sentinel as the only provider who makes benefits EASY: easy for your people; easy for your business; and easy for you. Our ultimate goal is to help companies and their employees prepare for their future health, wealth and retirement needs. Whether it’s through retirement plans, group health insurance, reimbursement accounts or financial planning, we engineer simple solutions and continuously strive to make them better. Our in-house experts – and their commitment to excellence – define who we are.

Requirements

A passion for the retirement plan industry and enthusiasm for client service and consulting.
Strong relationship-building skills with clients, colleagues, and external partners.
Excellent interpersonal skills, with the ability to communicate effectively and engage comfortably with a wide variety of people.
Familiarity with traditional defined benefit and cash balance retirement plan designs.
Practical experience with retirement plan compliance testing and the ability to present results and recommendations to stakeholders.
Proven ability to work both independently and as part of a collaborative team.
Analytical and problem-solving skills to address complex plan administration and compliance issues.
High level of organization, self-motivation, time management, and attention to detail within a fast-paced, deadline-driven environment.
At least 3 years of actuarial and consulting experience in all aspects of defined benefit plan valuation and administration, combined defined benefit/defined contribution plan non-discrimination testing and alternative plan design.
Intermediate to advanced knowledge of Microsoft Excel including the use of formulas and overall ability to learn and use different software packages.

Nice To Haves

Experience with Relius Administration software preferred (but not required)

Responsibilities

Developing and maintaining client relationships across many different industries with varying levels of benefit and financial experience.
Assisting clients with plan design including but not limited to aligning their Defined Benefit and Defined Contribution plans to meet their company objectives and IRS compliance requirements.
Answering a variety of client questions related to plan administration, plan design and participant inquiries.
Maintaining knowledge of ERISA, the Internal Revenue Code and related regulations.
Reviewing and interpreting plan documents, amendments, notices and summary plan descriptions.
Reconcile participant census and determine eligible, key and highly compensated employees
Perform annual valuations and determine IRS minimum and maximum contributions
Coordinate contribution funding with client
Prepare valuation reports and participant statements
Prepare AFTAP certification, Schedule SB and PBGC filings for actuary signature
Assist with preparation of Form 5500 filings
Coordinate annual PBGC filings
Prepare annual funding notice
Perform benefit calculations and prepare distribution paperwork
Perform annual IRS nondiscrimination testing, including aggregated testing with Defined Contribution plans
Respond to auditor inquiries if plan is subject to annual audit
Assist in performance of plan termination filings including filing with IRS and PBGC, if applicable
Grow professional knowledge through training and self-study.
Perform other team tasks and participate in projects as needed.

Benefits

PTO (vacation, sick, personal time bank)
FTO (Flexible time off for vacation, sick, and personal time) after 2 years of service
12 Paid Holidays (10 stated and 2 floating holidays)
2 Community Volunteer Days
5 Summer Half Days
Medical, Dental, Vision
Life Insurance
LTD & STD
Retirement Plan with 4% Employer Match
Parental Leave