Defined Benefit Pension Administrator

Prime Pensions, Inc.; Sacramento (CA); Hybrid; USD 70,000 - 75,000; Full time

Job summary

Prime Pensions, Inc. is seeking a Defined Benefits Administrator to join our Operations team in Sacramento.

You will manage annual administration, participant benefit calculations, and regulatory reporting for Defined Benefit and Cash Balance plans, ensuring accuracy and timely delivery. The ideal candidate has at least two years of Defined Benefit retirement plan experience, strong mathematical skills, and the ability to interpret plan documents and regulations.

Qualifications

• At least two years of Defined Benefit retirement plan administration experience.
• Strong mathematical and analytical skills.
• Ability to interpret plan documents and applicable retirement plan regulations.

Responsibilities

• Manage the annual administration of assigned Defined Benefit and Cash Balance retirement plans.
• Review and interpret plan documents to determine administrative provisions and requirements.
• Determine participant eligibility, compensation, service, vesting, and benefit accrual information.
• Review participant census and plan data for accuracy and completeness.
• Identify discrepancies, missing information, or potential issues.
• Prepare annual plan administration reports, calculations, and client deliverables.
• Maintain complete plan records and supporting documentation.
• Coordinate resolution of administrative, compliance, and trust-related issues.

Skills

Defined Benefit

Cash Balance

Regulatory compliance

Job description

Defined Benefits Administrator

Department: Operations
Reports To: Enrolled Actuary / Defined Benefits Manager
FLSA Status: Non-Exempt
Pay Range: $70,000–$75,000 annually
Reporting Office: Sacramento, CA
Work Arrangement: In-Person or Remote

COMPANY

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.

POSITION SUMMARY

The Defined Benefits Administrator is responsible for the ongoing administration and compliance of Defined Benefit and Cash Balance retirement plans. This position manages an assigned portfolio of plans and performs annual administration, participant benefit calculations, compliance testing, contribution-related calculations, regulatory reporting, and other technical plan administration responsibilities.

The ideal candidate has at least two (2) years of Defined Benefit retirement plan administration experience, strong mathematical and analytical skills, and the ability to interpret plan documents and applicable retirement plan regulations.

This role works closely with Enrolled Actuaries, Consultants, and other members of the retirement plan administration team to ensure client work is completed accurately, efficiently, and within established deadlines.

ESSENTIAL DUTIES AND RESPONSIBILITIES

Defined Benefit Plan Administration

• Manage the annual administration of assigned Defined Benefit and Cash Balance retirement plans.
• Review and interpret plan documents to determine applicable administrative provisions and requirements.
• Determine participant eligibility, compensation, service, vesting, and benefit accrual information.
• Review participant census and plan data for accuracy and completeness.
• Identify discrepancies, missing information, or potential administrative and compliance issues.
• Prepare annual plan administration reports, calculations, and other client deliverables.
• Maintain accurate and complete plan records and supporting documentation.
• Coordinate the resolution of administrative, compliance, and trust-related issues involving assigned plans.

Benefit & Contribution Calculations

• Prepare participant benefit calculations, including retirement, termination, Required Minimum Distribution (RMD), and other applicable benefit calculations.
• Prepare monthly and other periodic benefit calculations as required.
• Calculate annual employer contribution amounts and prepare related contribution information for Consultants and clients.
• Assist with preliminary and projected contribution calculations as needed.
• Review calculations for accuracy and consistency with applicable plan provisions.
• Coordinate with Enrolled Actuaries regarding funding requirements and actuarial calculations.

Compliance & Regulatory Responsibilities

• Perform applicable nondiscrimination, coverage, Highly Compensated Employee (HCE), and Top-Heavy testing.
• Prepare Schedule SB information and supporting materials in coordination with the plan's Enrolled Actuary.
• Assist with AFTAP calculations, certifications, and related administrative requirements, as applicable.
• Prepare and coordinate applicable Pension Benefit Guaranty Corporation (PBGC) notices, information, and filings.
• Assist with annual government reporting and other regulatory requirements applicable to assigned plans.
• Monitor applicable administrative and regulatory deadlines.
• Research technical and administrative questions using applicable regulations, technical resources, and Company procedures.
• Identify potential compliance issues and appropriately elevate complex matters for additional review.

Plan Design & Takeover Support

• Assist with the conversion, review, and