Defined Benefit Plan Specialist (Hybrid)

Cuna Mutual Group; Juneau (AK); On-site; USD 42,716 - 74,752; Full time

Benefits offered by this job

Medical, dental, and vision coverage

Employee assistance program

Life insurance and disability plans

Parental leave

Paid time off

401(k) retirement plan

Tuition reimbursement

Job summary

TruStage is seeking a Defined Benefit Plan Specialist to oversee annual administration, benefit calculations, and required reporting. You will process census data, prepare valuations, and manage distributions with the Pension Financial Unit as needed.

The role requires strong analytical skills, MS Office proficiency, and independence. Responsibilities include preparing government filings, benefit statements, and supporting plan design proposals, with opportunities to train others in the Defined

Qualifications

• One year of post-high-school coursework in business, accounting, mathematics, computer science, or equivalent professional experience.
• Four years of retirement plan administration experience for defined benefit plans.
• Proven ability to work independently with minimal managerial assistance.
• Proven interpersonal and customer-service skills.
• Strong analytical, critical-thinking, problem-solving, and decision-making skills.
• Proficiency in the MS Office environment.

Responsibilities

• Maintain employee census data for defined benefit plans, including data entry and data uploads.
• Prepare the annual valuation for defined benefit plans and review assumptions with the Senior Actuary.
• Calculate benefit payment options and deliver benefit paperwork to participants.
• Process distributions using the EScape system and coordinate annuity purchases when needed.
• Prepare estimated benefit calculations for requested future termination dates for active participants.
• Prepare annual premium billing for policy-funded defined benefit plans and generate billing documents.
• Prepare annual benefit statements for participants.
• Prepare annual government reporting forms such as IRS Form 5500 and Schedule B.
• Communicate with clients and staff about missing information or inquiries.
• Assist Retirement Consultants and Senior Actuary with proposals illustrating plan design impacts.
• Assist in creating and maintaining the Defined Benefit Administration procedure manual.
• Assist in training other Defined Benefit Plan Specialists.

Skills

Analytical thinking

Customer service

MS Office proficiency

Independent worker

Decision making

Education

One year of post-high-school coursework in business, accounting, mathematics, computer science, or equivalent professional experience

Tools

MS Office

Job description

At TruStage, we’re on a mission to make a brighter financial future accessible to everyone by building insurance, investment, and technology solutions that help individuals take control of their financial future.

Job Purpose

This position is responsible for the annual administration of defined benefit plans, including benefit processing and related support functions under the guidance of senior staff.

Job Responsibilities

• 20% Maintain employee census data for defined benefit plans. This includes data entry of census information received via paper and data upload of census received via electronic means, analyzing data for completeness, and contacting clients for clarification.
• 20% Prepare the annual valuation for defined benefit plans, reviewing plan provisions and employee data, preparing actuarial reports, and reviewing assumptions with the Senior Actuary.
• 20% Calculate benefit payment options and deliver benefit paperwork to participants, including adjustments for early retirement, minimum benefits, late retirement, benefit offsets, revenue code limits, and other statutory requirements.
• 10% Process distributions using the EScape withdrawal system after receipt of completed benefit paperwork, handling payout options such as cash, rollover, monthly payments, annuity purchases, and coordinating annuity purchases with the Pension Financial Unit when needed.
• 10% Prepare estimated benefit calculations for requested future termination dates for active participants, incorporating the necessary adjustments.
• Prepare the annual premium billing for policy‑funded defined benefit plans, reviewing legal documents, verifying system provisions, and generating billing documents.
• 5% Prepare annual benefit statements for participants in defined benefit plans.
• 5% Prepare annual government reporting forms, including IRS Form 5500, Schedule B, and other required schedules.
• 5% Communicate orally and in writing with clients and retirement services staff regarding missing information, incomplete forms, or general inquiries.
• 5% Work with Retirement Consultants and the Senior Actuary to prepare proposals illustrating the impact of plan design alternatives.
• Assist with the creation and maintenance of the written procedure manual for the Defined Benefit Administration unit.
• Assist with the training of other Defined Benefit Plan Specialists.

Job Requirements

• One year of post‑high‑school coursework in business, accounting, mathematics, computer science, or equivalent professional experience.
• Four years of experience in retirement plan administration for defined benefit plans, including:
  • Analysis and interpretation of retirement plan legal documents
  • Calculation of retirement benefits
  • Preparation of actuarial valuations
  • Preparation of government reporting forms
• Proven ability to work independently with minimal managerial assistance.
• Proven interpersonal and customer‑service skills.
• Strong analytical, critical‑thinking, problem‑solving, and decision‑making skills.
• Proficiency in the MS Office environment.
• Demonstrated alignment with the values and competencies of CUNA Mutual Group.

Compensation and Benefits

Base Salary Range: $42,716.00 – $74,752.00

In addition to base pay, eligible employees may receive an annual incentive (bonus) plan. Benefits include:

• Medical, dental, and vision coverage
• Employee assistance program
• Life insurance and disability plans
• Parental leave
• Paid time off
• 401(k) retirement plan
• Tuition reimbursement

Accommodation Request

If you require accommodations during the application or interview process, please contact the accessibility department.