[Hiring] Defined Benefits Administrator @PRIME PENSIONS INC

Role Description

The Defined Benefits Administrator is responsible for the ongoing administration and compliance of Defined Benefit and Cash Balance retirement plans. This position manages an assigned portfolio of plans and performs:

• Annual administration
• Participant benefit calculations
• Compliance testing
• Contribution-related calculations
• Regulatory reporting
• Other technical plan administration responsibilities

The ideal candidate has at least two (2) years of Defined Benefit retirement plan administration experience, strong mathematical and analytical skills, and the ability to interpret plan documents and applicable retirement plan regulations.

This role works closely with Enrolled Actuaries, Consultants, and other members of the retirement plan administration team to ensure client work is completed accurately, efficiently, and within established deadlines.

Qualifications

• Bachelor's degree in Mathematics, Actuarial Science, Finance, Accounting, Business, or a related field preferred; equivalent relevant professional experience may be considered.
• Minimum of two (2) years of Defined Benefit retirement plan administration experience.
• Experience performing Defined Benefit plan calculations and annual administration.
• Demonstrated ability to manage multiple plans and assignments while meeting established deadlines.
• Strong mathematical, analytical, and problem-solving abilities.
• Experience working within a third-party administration (TPA), actuarial, retirement plan consulting, or similar environment preferred.

Requirements

• Manage the annual administration of assigned Defined Benefit and Cash Balance retirement plans.
• Review and interpret plan documents to determine applicable administrative provisions and requirements.
• Determine participant eligibility, compensation, service, vesting, and benefit accrual information.
• Review participant census and plan data for accuracy and completeness.
• Identify discrepancies, missing information, or potential administrative and compliance issues.
• Prepare annual plan administration reports, calculations, and other client deliverables.
• Maintain accurate and complete plan records and supporting documentation.
• Coordinate the resolution of administrative, compliance, and trust-related issues involving assigned plans.
• Prepare participant benefit calculations, including retirement, termination, Required Minimum Distribution (RMD), and other applicable benefit calculations.
• Perform applicable nondiscrimination, coverage, Highly Compensated Employee (HCE), and Top-Heavy testing.
• Assist with annual government reporting and other regulatory requirements applicable to assigned plans.
• Research technical and administrative questions using applicable regulations, technical resources, and Company procedures.

Benefits

• Annual base compensation of $70,000–$75,000, based on relevant Defined Benefit plan administration experience, technical expertise, industry credentials, and other job-related qualifications.
• Overtime compensation in accordance with applicable federal and state wage and hour requirements.
• Annual performance reviews and eligibility for compensation increases.
• Bonus opportunities.
• Company-sponsored benefits available to eligible full-time employees, including:
  • Medical, dental, and vision insurance.
  • Health Savings Account (HSA), subject to eligibility.
  • Life insurance.
  • 401(k) retirement plan with employer contributions.
  • Paid time off.
  • Professional development and applicable examination support.

Company Description

Prime Pensions, Inc. is a well-established retirement plan administration and actuarial firm specializing in 401(k), profit sharing, defined benefit, cash balance, and other qualified retirement plans for employers across the United States.

Since 1975, Prime Pensions has provided customized retirement plan solutions with an emphasis on technical expertise, accuracy, and personalized service.

Prime Pensions has been recognized as a leading defined contribution plan administrator and as one of NJBIZ's Best Places to Work in New Jersey.