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Senior Pension Calculation Analyst

2 months ago

Stamford, Connecticut, United States Legal & General Retirement America Full time
About the Role

We are seeking a highly skilled Pension Benefit Calculation Specialist to join our team at Legal & General Retirement America. As a key member of our Pension Support Services team, you will be responsible for the accurate and timely processing of moderate to high complexity benefit calculations.

Key Responsibilities
  • Define, develop, and implement Group Annuity Contract specific standard methodologies and procedures that align with benefit specifications and associated plan or client requirements and comply with new or existing federal and state regulatory laws.
  • Understand complex pension calculation concepts for plans with different benefit structures.
  • Properly administer contracts in accordance with the plan sponsor requirements, with a focus on the deferred population and executing benefit calculations.
  • Supporting administration system transformation including calculation testing of existing and new cases.
  • Process and handle monthly payments, new payment set ups, death processing and monthly reconciliation of files.
  • Assist or handle complex cases. Provide appropriate paperwork for new payments including QDRO's and benefit quoting.
  • Assist Transition team with onboarding of new pension risk transfer plans and validate data in servicing systems.
  • Implement process automation solutions to deliver system improvements. Validate systems and workflows to ensure all new processes are functioning correctly including conducting UAT for system modifications. Identify defects and define options for remediation.
  • Collaborate on project scope, issues, and options. Accurately plan and appropriately complete projects. Participate in accurate and complete testing of new system updates.
  • Identify, track and report issues in a timely manner. Promptly provide comments, feedback, and recommendations.
  • Work with the tax department to ensure state and federal taxation rates are up to date and maintained in the admin system.
  • Participate in delivering team trainings.
  • Develop and document procedure manuals for Pension Support Services.
  • Complete all other tasks and projects.
Requirements
  • Bachelor's Degree in a related field or 5 years of relevant work experience in lieu of degree.
  • 3+ years of retirement plan administration experience, including in-depth pension benefit calculation knowledge.
  • Strong analytical, organizational, and project management skills.
  • Ability to balance multiple priorities in a fast-paced environment.
  • Display history of building trust and developing team relationships.
  • Exceptional oral and written communication skills as well as presentation skills; ability to deliver information in a concise manner.
  • Advanced spreadsheet proficiency (Excel).
  • Database capabilities (VBA, SQL) a plus.
  • Proficiency in Microsoft Office product suite.
  • Willingness to travel as needed.
Benefits
  • vacation days depending on experience level and years of service
  • 4 floating holidays & 2 personal days
  • sick days, depending on years of service
  • 2 paid volunteering days
  • Health benefits, including medical, dental, and vision coverage
  • Supplemental health benefits and life insurance
  • 6 weeks of paid parental and maternal leave
  • Immediate vesting into a 401k savings plan with up to 6% company match
  • 100% employer-contributed Pension Plan - Cash Balance Plan after 1 year of service
  • Flexible Workspace and Arrangements
  • Tuition and Certification reimbursements
  • Infertility and domestic partner benefits