Senior Actuary – Cash Balance & ERISA DB Plans

NACBA; Northern (KY); Hybrid; USD 120,000 - 160,000; Full time

Benefits offered by this job

Competitive compensation

Comprehensive benefits

Generous paid time off

Volunteer time off

Job summary

Alerus is seeking an experienced Cash Balance Actuary to design and communicate ERISA aspects of Cash Balance, Defined Benefit, and Defined Contribution plans. You will produce projections for proposals, explain funding strategies, and manage a book of clients, including data review, testing, valuation prep, and regulatory filings.

The role requires extensive actuarial credentials, 10+ years in complex defined contribution environments, and strong communication skills.

Qualifications

• Bachelor’s degree or equivalent related experience as an enrolled actuary approved by the Joint Board for the Enrollment of Actuaries in Active Status.
• 10+ years of experience in complex defined contribution plan administration such as non-qualified plans, cross testing allocations, and other unique plan designs.
• Member of American Academy of Actuaries, Society of Actuaries and/or the American Society of Pension Professionals & Actuaries.
• Possess ASPPA’s MSEA certification or equivalent.
• Ability to perform all aspects of retirement plan compliance testing and allocations with minimal review.
• Ability to prioritize tasks, manage multiple projects, and meet deadlines in a fast-paced environment.
• Excellent written/oral communication, organization, and client service skills required.
• Maintain professional working relationships with internal and external clients.
• Work independently and set priorities.
• Excellent analytical and problem-solving skills with a high level of attention to detail.
• Advanced knowledge of Microsoft Word and Excel.

Responsibilities

• Utilize analytical software to review employee census data, existing 401(k) and Profit Sharing plan documents, and ownership data to design a Defined Benefit, Cash Balance, and/or 401(k)/Profit Sharing plan that fulfills the client’s desires and objective while also complying with all the various limitations, coverage, and nondiscrimination testing requirements found in ERISA.
• Identify and implement changes and/or amendments needed to plan documents to address client needs and/or resolve client requests.
• Monitor receipt of client’s census information to prioritize completion of annual reporting requirements.
• Coordinate and assist administrators with timely completion of discrimination compliance testing.
• Provide input and guidance to colleagues assigned to administration for both a 401(k) and cash balance or defined benefit plan.
• Provide internal training to Alerus Sales and Administration Staff.

Education

Bachelor’s degree or equivalent related experience as an enrolled actuary approved by the Joint Board for the Enrollment of Actuaries in Active Status.

Tools

Microsoft Word

Microsoft Excel

Job description

Alerus is seeking an experienced Cash Balance Actuary to design and communicate ERISA aspects of Cash Balance, Defined Benefit, and Defined Contribution plans. You will produce projections for proposals, explain funding strategies, and manage a book of clients, including data review, testing, valuation prep, and regulatory filings.

The role requires extensive actuarial credentials, 10+ years in complex defined contribution environments, and strong communication skills.