Defined Benefit Enrolled Actuary

PRIME PENSIONS INC; Sacramento (CA); Hybrid; USD 100,000 - 130,000; Full time

Benefits offered by this job

Medical, dental, and vision insurance

Health Savings Account (HSA)

Life insurance

401(k) retirement plan with employer…

Paid time off

Professional development opportunities

Job summary

Prime Pensions, Inc. is a trusted retirement plan administrator and actuarial firm serving employers nationwide.

The DB Enrolled Actuary will perform valuations, testing, plan design, and regulatory filings for defined benefit and cash balance plans, working closely with consultants to deliver accurate, timely service to small-plan clients. The ideal candidate is an experienced Enrolled Actuary with small-plan market experience, able to collaborate with consultants and staff, and to stay current

Qualifications

• Bachelor's degree in actuarial science, math or related field
• 5+ years experience in the pension industry
• Enrolled Actuary designation (may be studying for final exam)
• Strong verbal/written communication, analytical, and critical thinking
• Proficiency with Microsoft and valuation applications, FT William preferred
• Experience certifying annual funding valuations for owner-only and staff under 100 lives
• Knowledge of 401(a)(26), 401(a)(4), 410(b), top-heavy and 404 deductibility testing
• Experience designing complex plan proposals and cost studies
• Experience reviewing plan documents and amendments
• Knowledge PBGC coverage and annual premium filings
• Experience with Schedule SB, AFTAP, Annual Funding Notices
• Plan termination calculations and wind-down planning
• IRC Section 415 requirements
• Ability to integrate to support consultants to meet clients' needs

Responsibilities

• Complete, review, and certify annual funding valuations for defined benefit, cash balance, and DB/DC plans
• Perform and review required compliance testing (IRC 401(a)(26), 401(a)(4), 410(b), top-heavy, 404 deductibility)
• Prepare complex plan-design proposals and cost studies
• Review plan documents and amendments for accuracy and regulatory compliance
• Prepare and review Schedule SB filings, AFTAP certifications, and Annual Funding Notices
• Determine PBGC coverage and support annual premium filings
• Perform plan-termination calculations and assist with wind-down strategies
• Apply IRC 415 limits and other pension regulations
• Use valuation software and Microsoft applications for analyses and deliverables
• Collaborate with consultants to resolve technical issues and meet client needs
• Communicate actuarial findings clearly to consultants and stakeholders
• Maintain current knowledge of pension laws, regulations, and professional requirements

Skills

Verbal communication

Written communication

Analytical thinking

Critical thinking

MS valuation software

Education

Bachelor's degree in actuarial science or mathematics

Enrolled Actuary designation

5+ years pension industry experience

Tools

FT William

Job description

DB Enrolled Actuary

Prime Pensions, Inc. is a well-established retirement plan administration and actuarial firm specializing in 401(k), profit sharing, defined benefit, cash balance, and other qualified retirement plans for employers across the United States.

Since 1975, Prime Pensions has provided customized retirement plan solutions with an emphasis on technical expertise, accuracy, and personalized service. Our team supports a wide variety of plan designs and investment arrangements while maintaining comprehensive oversight and quality standards throughout the administration process.

Prime Pensions has been recognized as a leading defined contribution plan administrator and as one of NJBIZ's Best Places to Work in New Jersey. This position is part of Associated Pension Consultants (APC), a Prime Pensions company known for its collaborative, client-focused approach and long-standing relationships with plan sponsors and financial advisors. APC fosters a team-oriented culture that emphasizes responsiveness, accountability, and delivering an exceptional client experience.

Position Summary

The DB Enrolled Actuary performs and reviews actuarial valuations, compliance testing, plan design, and regulatory filings for defined benefit and cash balance plans. This role partners with consultants to deliver accurate, timely, and high-quality service to small-plan clients.

The ideal candidate is a highly experienced retirement plan professional and Enrolled Actuary with small plan market experience. This individual must have the skill and willingness to work with our Consultants as they service our clients in all aspects of the ever-changing DB world. Our DB plans include traditional defined benefit formulas, cash balance plans and DB/DC combination arrangements.

Essential Duties and Responsibilities

• Complete, review, and certify annual funding valuations for defined benefit, cash balance, and DB/DC combination plans.
• Perform and review required compliance testing, including IRC Sections 401(a)(26), 401(a)(4), 410(b), top-heavy, and 404 deductibility testing.
• Prepare complex plan-design proposals and cost studies aligned with client objectives.
• Review plan documents and amendments for accuracy and regulatory compliance.
• Prepare and review Schedule SB filings, AFTAP certifications, and Annual Funding Notices.
• Determine PBGC coverage and support annual premium filings.
• Perform plan-termination calculations and assist with termination and wind-down strategies.
• Apply IRC Section 415 limits and other applicable pension regulations.
• Use valuation software and Microsoft applications to complete actuarial analyses and deliverables.
• Collaborate with consultants to resolve technical issues and meet client needs.
• Communicate actuarial findings clearly to consultants and other stakeholders.
• Maintain current knowledge of pension laws, regulations, and professional requirements.

QUALIFICATIONS

Education, Credentials & Experience

• Bachelor's degree in actuarial science, math or math-related field
• Minimum 5 years experience in the pension industry
• Enrolled Actuary designation (may consider an individual currently studying for their final exam)
• Strong verbal/written communication, analytical, & critical thinking skills
• Demonstrated expertise with Microsoft and valuation applications, FT William preferred
• Proficiency reviewing/certifying/completing annual funding valuations for both owner-only clients & plans with staff of less than 100 lives
• Strong working knowledge of pension plan testing regulations including the ability to review or perform, as needed, annual 401(a)(26), 401(a)(4), 410(b), top heavy, & 404 deductibility testing
• Experience running complex plan design proposals/cost studies targeting client objectives
• Skill in reviewing plan documents & amendments
• Knowledge of the requirements for PBGC covered plans including coverage determination, annual premium filings & the complexities of the termination process
• Experience completing/reviewing Schedule SB forms, AFTAPs , Annual Funding Notices
• Skill performing necessary plan termination calculations & assisting with wind down strategy
• Proficiency with IRC Section 415 requirements
• Ability to integrate all of the above to effectively support our consultants to provide high-quality service & meet our clients' needs

COMPENSATION & BENEFITS

• Competitive salary between $100,000 - $130,000 annually.

• Support to meet continuing education requirements & maintain Enrolled Actuary designation.

• Annual performance reviews and eligibility for compensation increases.
• Bonus opportunities, where applicable.
• Company-sponsored benefits available to eligible full-time employees, including:
  • Medical, dental, and vision insurance.
  • Health Savings Account (HSA), subject to eligibility.
  • Life insurance.
  • 401(k) retirement plan with employer contributions.
  • Paid time off.
  • Professional development opportunities.

All benefits are subject to applicable plan terms, eligibility requirements, and Company policies.

WORK LOCATION

This position may be performed remotely or from the Company's Chico or Sacramento, California office, based on business needs and the employee's approved work arrangement.

Prime Pensions, Inc. is an Equal Opportunity Employer.