Benefits Analyst
Milliman 21 reviews - Woodland Park, NJ

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Job description

The Benefits Analyst will works in a team environment and be responsible for the operational tasks associated with servicing payment and data administration needs for defined benefit pension plans, maintaining compliance with the plan’s provisions and administrative policies. This includes, but is not limited to, loading participant data, reconciling benefit payments, establishing payment records, communicating payee information changes, and handling retiree checks.

Job responsibilities
  • Processing participant data updates and client payroll files
  • Maintain and update payment administration procedures
  • Review pension election forms and supporting documentation
  • Prepare written communications for participants regarding payment issues
  • Research participant records for internal and external requests related to payments
  • Review and provide fulfillment of participant communications regarding payments
  • Input payment information into Milliman’s pension system (and other systems when applicable)
  • Maintain signature authority forms for each trustee and administer changes as needed
  • Transmit information to Trustee for payment initiation and payment changes
  • Communicate with Trustee regarding stop payments and check reinstatements
  • Complete reconciliation of pension payments with Trustees
  • Provide support resolving issues identified by death audits
  • Monitor progress of daily tasks
  • Ensure final work products are of high quality and provided in a timely fashion
  • Provide support for special projects and other tasks as needed
  • Identify, analyze, and assist in implementing process improvements
  • Assist with training of new employees as needed
  • Take an active role in pursuing continued education
Required experience and skills
  • BA/BS degree in Mathematics or Business
  • Ability to demonstrate strong organizational skills
  • Strong analytical capabilities
  • Great attention to detail
  • Ability to work in a team environment and individually
  • Strong verbal and written communication skills, with an emphasis on customer service
  • Ability to balance and prioritize multiple projects
  • Proficient in the use of Microsoft Windows and Microsoft Office suite (Word and Excel)
  • Willing to pursue ASPPA (American Society of Pension Actuaries) exams (an ASPPA designation would be a plus)
  • Pension benefit background a plus

We offer a competitive base salary, plus an outstanding and comprehensive benefits package.

About Milliman

Milliman employs more than 2,000 people working in employee benefits, healthcare, life insurance/financial services, and property and casualty insurance. For more than 60 years, the firm has quietly earned a reputation for exceptional services, innovation and quality. Today Milliman is one of the nation’s most highly regarded providers of retirement plan services to the full spectrum of business, financial, government and union organizations.

Hiring practices

Milliman is an equal opportunity employer and strongly supports both ethnic and gender diversity. All employment decisions are based strictly upon qualifications of the individual as related to the work requirements of the position. This policy is applied without regard to race, sex, color, religion, national origin, ancestry, age, handicap, veteran status, marital status or sexual orientation.

About this company
21 reviews
Milliman's consultants aren't exactly thrill-seekers, but they do know a lot about risk. The actuarial and business consulting...