Defined Benefit Pension Administration Professional
Milliman - Woodland Park, NJ
Job description

The individual will direct a team of benefit professionals responsible for the calculation and payment of pension benefits for clients who outsource pension administration services to Milliman. In addition, the individual will develop and monitor administrative processes and procedures to ensure accuracy, timeliness and measurable performance of ongoing administration to ensure that contractual obligations under the service agreements are met.

Job responsibilities
  • Supervise team resources and priorities to manage workload, escalating issues as necessary
  • Assess training needs
  • Take an active role in pursuing continued education
  • Complete performance evaluations
  • Process and review manual calculations and ensure accuracy of system generated calculations
  • Supervise the administration of pensioner payments
  • Ensure final work products are of high quality and provided in a timely fashion
  • Ensure service level commitments are maintained by the team
  • Interface with plan sponsor representatives concerning ongoing administration services
  • Maintain effective relationships with client contacts and internal managers
  • Assist with system testing for plan modifications and new plan implementations
  • Coordinate with implementation team to achieve successful plan conversions
Required experience and skills
  • Mid-level experience with defined benefit plan administration
  • Supervisory experience
  • Qualified Pension Administrator (QPA) designation from the American Society of Pension Actuaries (ASPPA) a plus
  • Understanding of regulatory aspects of defined benefit plan administration such as 415 benefits limits, 401(a)(17) limits, minimum required distributions, nonqualified plans and other defined benefit regulatory issues involving ERISA and IRS Revenue Rulings
  • Strong analytical and mathematical skills, with an emphasis on the details
  • Strong organizational and problem solving skills, with the ability to track multiple tasks and issues, set goals and prioritize tasks in a fast paced environment
  • Strong verbal and written communication skills, with an emphasis on customer service
  • Exposure to pension actuarial valuation experience and defined benefit administration system experience

A competitive base salary, plus a performance-based incentives bonus tied to the overall business performance. The firm offers 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.

Milliman - 13 months ago - save job - block
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About this company
8 reviews
Milliman's consultants aren't exactly thrill-seekers, but they do know a lot about risk. The actuarial and business consulting...