Senior Pension Calculation Analyst

Overview

Legal & General is a leader in Pension Risk Transfer with over 30 years of experience globally, servicing over a million annuitants. Building on our global success, we established our Pension Risk Transfer platform in the US in 2015.  The business has grown steadily and by the end of 2023 we had more than $10 billion in premium written.

At Legal & General Retirement America, we aim to make a positive difference in the lives of our customers, partners, colleagues, and the communities in which they live.  We are passionate about what we do and how we do it. This means working with pace and energy to reach our goals and challenging ourselves to achieve more.  We strive to create a unique environment where balance between work and life is possible. 

Purpose and Objective

We are looking to add a Senior Pension Calculation Analyst to our Pension Support Services team who will be responsible for the accurate and timely processing of moderate to high complexity benefit calculations. The analyst will also lead and implement key projects and be the functional expert on specific applications and processes.

This role will be working in a hybrid environment for candidates within a commutable distance to Stamford, CT or Frederick, MD. We will consider remote candidates who reside outside of the Stamford, CT or Frederick, MD area.

Role and Responsibilities

• Define, develop, and implement Group Annuity Contract specific standard methodologies and procedures which align with benefit specifications and associated plan or client requirements and comply with new or existing federal and state regulatory laws.
• Understand complex pension calculation concepts for plans with different benefit structures.
• Properly administer contracts in accordance with the plan sponsor requirements, with a focus on the deferred population and executing benefit calculations.
• Supporting administration system transformation including calculation testing of existing and new cases.
• Process and handle monthly payments, new payment set ups, death processing and monthly reconciliation of files.
• Assist or handle complex cases. Provide appropriate paperwork for new payments including QDRO’s and benefit quoting.
• Assist Transition team with onboarding of new pension risk transfer plans and validate data in servicing systems.
• Implement process automation solutions to deliver system improvements. Validate systems and workflows to ensure all new processes are functioning correctly including conducting UAT for system modifications. Identify defects and define options for remediation.
• Collaborate on project scope, issues, and options. Accurately plan and appropriately complete projects. Participate in accurate and complete testing of new system updates.
• Identify, track and report issues in a timely manner. Promptly provide comments, feedback, and recommendations.
• Work with the tax department to ensure state and federal taxation rates are up to date and maintained in the admin system.
• Participate in delivering team trainings.
• Develop and document procedure manuals for Pension Support Services.
• Complete all other tasks and projects.

Requirements

Qualifications

• Bachelor’s Degree in a related field or 5 years of relevant work experience in lieu of degree.
• 3+ years of retirement plan administration experience, including in depth pension benefit calculation knowledge.
• Strong analytical, organizational, and project management skills.
• Ability to balance multiple priorities in a fast-paced environment.
• Display history of building trust and developing team relationships.
• Exceptional oral and written communication skills as well as presentation skills; ability to deliver information in a concise manner.
• Advanced spreadsheet proficiency (Excel).
• Database capabilities (VBA, SQL) a plus.
• Proficiency in Microsoft Office product suite.
• Willingness to travel as needed.

Benefits

• 10 - 25 vacation days depending on experience level and years of service
• 4 floating holidays & 2 personal days
• 10 - 15 sick days, depending on years of service
• 2 paid volunteering days
• Health benefits, including medical, dental, and vision coverage
• Supplemental health benefits and life insurance
• 6 weeks of paid parental and maternal leave
• Immediate vesting into a 401k savings plan with up to 6% company match
• 100% employer-contributed Pension Plan - Cash Balance Plan after 1 year of service
• Flexible Workspace and Arrangements
• Tuition and Certification reimbursements
• Infertility and domestic partner benefits

The expected hiring compensation range for this position is $75,467 - $90,560 USD annually. There will be a locality pay differential for candidates commuting to Stamford, CT. Base pay offered may vary depending on multiple individualized factors, including market location, job-related knowledge, skills, and experience. The current bonus target for the position is 5% of the base salary with a stretch to twice the target, modified for corporate and individual performance.

**This role is to be filled outside of the state of Colorado**

We are an equal-opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.