Benefits Administration Services Analyst II

This is a fully remote position, open to applicants in New Jersey.

📋 Description

• Execute Defined Benefit pension calculations related to retirement, termination, death, and other benefits.

• Verify participant data and documentation for accuracy and thoroughness.

• Handle participant elections, benefit commencements, distributions, and various pension transactions.

• Interpret and implement Defined Benefit plan provisions, administrative protocols, and business regulations.

• Comprehend plan designs, benefit formulas, options, and eligibility criteria.

• Investigate and resolve participant and plan administration issues.

• Review calculations and transactions for precision and compliance.

• Maintain participant records and update benefit administration systems accordingly.

• Address inquiries from participants, clients, and internal teams.

• Identify and rectify data discrepancies with relevant teams.

• Assist in data validation, testing, audits, and quality assurance initiatives.

• Aid with plan updates, system modifications, annual processes, and special projects.

• Adhere to service-level agreements, quality standards, procedures, and client-specific requirements.

• Preserve documentation related to processes, procedures, calculations, and plan administration.

• Collaborate with team members and internal departments for timely and accurate service delivery.

• Take part in team meetings, training sessions, and client-facing interactions.

• Identify enhancements for processes, accuracy, and operational efficiency.

• Assist Senior Analysts and team leadership with complex Defined Benefit administration tasks.

⛳️ Requirements

• Bachelor’s degree or an equivalent combination of education and relevant experience.

• 2+ years of experience in benefits administration, pension administration, or a related domain.

• Strong preference for experience with Defined Benefit pension plans.

• Preferred background in performing or reviewing pension benefit calculations.

• Familiarity with retirement plan concepts, participant data, and benefit administration processes.

• Capability to interpret plan documents, procedures, and business rules accurately.

• Strong analytical, mathematical, and problem-solving capabilities.

• Exceptional attention to detail while managing multiple priorities.

• Proficient in Microsoft Excel and other Microsoft Office applications.

• Preferred experience with benefits administration or pension systems.

• Excellent written and verbal communication skills.

• Ability to work independently while effectively collaborating within a team.

• Preferred experience administering Defined Benefit plans in a benefits outsourcing, consulting, or third-party administration setting.

• Knowledge of ERISA, IRS regulations, and other requirements relevant to Defined Benefit retirement plans is preferred.

• Experience with complex pension calculations, including early retirement, optional payment forms, QDROs, and death benefits is preferred.

• Preferred experience in data analysis, system testing, or benefits administration implementations.

• Experience in a client-service environment is preferred.

🏝️ Benefits

• Remote work from home.

• Comprehensive health and welfare benefits effective from day one.

• Retirement savings programs.

• Employee discounts on merchandise, services, travel, and more.

• Opportunities for career growth.

• Paid training.

• Paid time off.

• Award-winning work environment that values diversity and inclusion.

• Health insurance coverage.

• Voluntary dental and vision programs.

• Life and disability insurance.

• Paid holidays.

• PTO or vacation and/or sick time.

• Potential bonus or incentive based on business needs.