Workable
Senior Benefit Calculation Analyst
Overview
Legal & General is a leader in Pension Risk Transfer with over 35 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 in 2024 we completed $2.2 billion in premium written, representing our largest year on record.
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.Â
Purpose and Objective
We are looking to add a Senior Calculation Analyst to our Retirement Support Services Team who will be responsible for the accurate and timely processing of moderate to high complexity benefit calculations. The analyst will also work on tasks related to the implementation of new GACâs with respect to the deferred population. In addition, the analyst will lead and implement key projects and be the functional expert on specific applications and processes.
Requirements
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.
· Support administration system transformation and new cases including creating test plans, plan specifications, and administering 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 QDROâs and benefit quoting.
· Assist Transition team with onboarding of new pension risk transfer plans and validating data in servicing systems, including mapping of deferred data fields in onboarding files and testing of the integration between the administration system and the calculator.
· Create sample calculations for confirmation with Plan Sponsors to create clear documentation of GAC interpretation of benefit calculations.
· 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.
· Deliver training to junior team members as needed.
· Participate in delivering continuing training to other departments on benefit calculation topics as needed.
· Develop and document procedure manuals for Retirement Support Services.
· Complete all other tasks and projects.
Qualifications
Bachelorâs Degree in a related field or equivalent work experience.
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.
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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.
Benefits
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.
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 $70,000 - $80,000 USD annually. 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.
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.
Stamford, CT, USA
$70,000/year
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