Pension Analyst

CONTACTS AND RELATIONSHIPS

Employee works with or has contact with the Plans’ Executives, Plan participants, business managers, beneficiaries, all departments within the organization, outside consultants, legal counsel and vendors.

ESSENTIAL FUNCTIONS

• Use independent discretion and judgment to accomplish work.
• Assist pension staff with participant inquiries and complex calculations.
• Assist Pension Manager with annual statement and actuarial valuation.
• Prepare monthly pension benefit reports for the Benefits Committee.
• Respond to employee (Plan and Guild staff) inquiries.
• Process employee pension data (e.g., retirement applications, demographic changes, beneficiary designations, etc.).
• Run special pension queries as required.
• Monitor department procedures, and notify manager of any recommended changes.
• Research various participant pension issues as they arise.
• Conduct monthly Defined Benefit and Defined Contribution Plan distribution process and Defined Contribution Plan Valuation.
• Answer telephone calls from participants requesting information on retirement, accrued benefits, possible death benefits, withdrawal benefits and explanation of Plan rules.
• Prepare retirement/withdrawal/death benefit applications.
• Meet with potential retirees to explain benefits options.
• Review retirement applications and contact participants for any necessary information.
• Set up and review electronic funds transfers for monthly benefits.
• Review and respond to notices of participant deaths.
• Update participant/beneficiary status and stop benefit payments (if applicable).
• Correspond with beneficiary(ies) to obtain information necessary to process death benefits.
• Pursue repayment of overpaid benefits to deceased participants.
• Review Supplemental Account report on an annual basis to determine whether benefits are payable on deceased participant accounts.
• Research identity and location of beneficiary if beneficiary information is unclear.
• Coordinate with other departments to determine impact of adjustment of contributions and Social Security Merges on pension benefits.
• Process replacement checks.
• Process benefit adjustments.
• Calculate and process post-retirement benefits increases.
• Prepare and follow up on Required Beginning Date and Required Minimum Distribution retirement applications.
• Review 1099 reports.
• Send forms, SPDs, plan documents, and any other requested documents to appropriate parties.
• Regular, predictable, and reliable attendance is required.
• Ability to accept direction and developmental guidance from supervisor.
• Ability to work effectively with individuals at all levels.

ADDITIONAL REPONSIBILITIES

• Perform other tasks as assigned by Pension Manager.

SKILLS AND ABILITIES

• Strong knowledge of qualified defined benefit and defined contribution plans, especially Taft-Hartley plans, ERISA and pension laws regulations, and IRS and DOL reporting requirements and regulations.
• Strong communication and analytical skills
• Excellent written and verbal communication skills to communicate effectively with participants, management, staff, benefits consultants, and the Board of Trustees
• Ability to understand, explain, and implement the concepts and rules of the Pension Plans
• Ability to manage interrelationships between Plan departments and their support of pension benefits

EDUCATION AND EXPERIENCE

Bachelor’s Degree with 7+ years of experience in DB/DC Plan administration and/or strong accounting background preferred. CEBS Designation is a plus.

PHYSICAL REQUIREMENTS

Possess manual dexterity sufficient to operate standard office machines. Ability to sit or stand for extended periods of time. Position requires bending, reaching, walking, and lifting of up to 10 lbs.

*Must will be willing to work onsite*