Pension Analyst

Position Summary

We are seeking a detail-oriented and experienced Pension Analyst to support the administration of multiemployer defined benefit pension plans in the maritime industry. The ideal candidate will have a solid understanding of ERISA, actuarial concepts, and collective bargaining agreements (CBAs) as they relate to multiemployer maritime industry pension plans. The candidate will additionally calculate benefits eligibility and assist plan participants, plan sponsors and trustees with their inquiries, while ensuring compliance with plan provisions.

Key Responsibilities

• Review and interpret multiple complex multiemployer pension plan agreements toward calculation of participant eligibility and benefit accruals.
• Maintain and update participant records and service histories on the plan’s internal computer system, as well as the plan’s third-party administrator’s (TPA’s) system.
• Respond to written and verbal participant and attorney inquiries related to pension benefits, plan rules, and payment status and provide support in understanding plan provisions.
• Collaborate with actuaries, auditors, and legal counsel to ensure compliance with ERISA, IRS, and DOL regulations.
• Reconcile between the plan’s internal and TPA systems monthly benefit payments from multiple union pension plans and produce and distribute monthly pension benefit payment reports, inclusive of Medicare premium reimbursements and federal tax withholding, to each plan’s administrative office.
• Prepare custom reports for the Board of Trustees and Plan Administrator.
• Support pension plan annual actuarial valuation processes and plan audits by providing requested system data and files.
• Coordinate pension plan benefits with those of other employer/union plans under integration and reciprocity agreements.
• Implement pension benefit increases upon trustees’ approval in coordination with the staff programmer and the plan’s third-party administrative office.
• Prepare marital election forms for the election or rejection of a joint annuity benefit.
• Comply with court orders and qualified domestic relations orders (QDROs).
• Compile death records from a death research vendor.
• Handle estate matters in connection with paid or unpaid items at the time of a retiree’s death.
• Participate in research for improvements to pension administration software.
• Assist with the preparation of new versions of the plan’s summary plan descriptions (SPDs).
• Assist with system conversions and other plan projects as needed.

Education & Experience

• Bachelor’s degree in Business Administration, Accounting, Finance, Human Resources, or a related field.
• 3+ years of experience with multiemployer defined benefit pension plans; maritime industry experience a plus.
• Experience with Taft-Hartley plans preferred.

Skills & Knowledge:

• Strong working knowledge of ERISA, IRS, and DOL regulations.
• Familiarity with pension plan agreement interpretation and CBAs.
• Proficiency with Microsoft Office (Word, Excel) and experience with pension administration software.
• Strong attention to detail, analytical skills, and ability to manage multiple tasks.
• Excellent written and verbal communication skills to explain technical benefit information clearly and accurately.

Preferred Qualifications:

• Experience with employer/union benefit plans in the maritime sector.
• Understanding of funding standards and actuarial terminology.
• Analytical, problem solving and organizational skills.

Working Conditions:

• Standard office hours.

Pay: $75,000.00 - $80,000.00 per year

Benefits:

• 401(k)
• Dental insurance
• Health insurance
• Retirement plan
• Vision insurance

Work Location: In person