Benefits Administration Services Analyst II

This is a fully remote position, open to applicants in United States.

📋 Description

• Execute Defined Benefit pension calculations for retirement, termination, death, and various other benefits.

• Assess participant data and documentation for precision and completeness.

• Manage participant elections, benefit commencements, distributions, and other pension-related transactions.

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

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

• Investigate and resolve participant and plan administration issues, escalating complex situations when necessary.

• 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 the relevant teams.

• Assist with data validation, testing, audits, and quality assurance efforts.

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

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

• Keep documentation for processes, procedures, calculations, and administrative activities.

• Collaborate with internal groups to ensure timely and accurate delivery of benefits administration services.

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

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

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

⛳️ Requirements

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

• Over 2 years of experience in benefits administration, pension administration, or a related area.

• Strong preference for experience with Defined Benefit pension plans.

• Preferred experience in performing or reviewing pension benefit calculations.

• Understanding of retirement plan concepts, participant data, and benefit administration processes is essential.

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

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

• Exceptional attention to detail while managing multiple priorities.

• Proficiency in Microsoft Excel and other Microsoft Office applications.

• Preferred experience with benefits administration or pension systems.

• Strong written and verbal communication skills are required.

• Capability to work independently while effectively collaborating within a team setting.

• Experience administering Defined Benefit plans in a benefits outsourcing, consulting, or third-party administration context is preferred.

• Familiarity with ERISA, IRS regulations, and other requirements applicable to Defined Benefit retirement plans is advantageous.

• Preferred experience with complex pension calculations, including early retirement, optional payment forms, QDROs, and death benefits.

• Experience with data analysis, system testing, or benefits administration implementations is preferred.

• Background in a client-service environment is a plus.

🏝️ Benefits

• Opportunity to work remotely from home.

• Comprehensive health and welfare benefits starting from day one.

• Retirement savings programs available.

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

• Opportunities for career advancement.

• Paid training provided.

• Paid time off (PTO) offered.

• Paid holidays included.

• Dental and vision coverage available.

• Life and disability insurance provided.

• Access to award-winning learning platforms.

• A great work environment that values diversity and inclusion.

• Eligibility for bonuses or incentives based on business needs.