Job Description
Are you a strategic financial professional passionate about public service?
The City of Virginia Beach is seeking a highly skilled Pension Plan Analyst to join our dynamic Human Resources team. In this pivotal role, you will ensure the financial stability and accuracy of our pension administration, serving the dedicated public servants who make our community strong.
As a Pension Plan Analyst, you will play a critical role in managing the retirement benefits process, ensuring strict compliance with state and federal regulations, and providing exceptional service to our members. If you have a keen eye for detail and a desire to make a tangible impact on the lives of our workforce, we want to hear from you.
Responsibilities
- Oversee Pension Administration: Manage the day-to-day operations of the City's pension plan, ensuring accurate record-keeping and timely processing of retirements and benefit calculations.
- Ensure Regulatory Compliance: Monitor and interpret federal and state laws (such as FERS, Virginia Retirement System) to ensure the pension plan remains fully compliant and legally sound.
- Member Advisory Services: Serve as the primary point of contact for current and retired employees, providing expert guidance on pension eligibility,vesting, and distribution options.
- Financial Analysis: Conduct actuarial projections and financial analyses to assess the long-term sustainability of the pension fund and recommend strategic adjustments.
- Reporting & Documentation: Prepare comprehensive monthly, quarterly, and annual reports for internal stakeholders and external auditors, maintaining meticulous documentation.
- Process Improvement: Identify operational inefficiencies in benefits administration and implement process improvements to enhance member experience and reduce administrative burden.
Qualifications
- Education: Bachelor’s degree in Finance, Accounting, Public Administration, or a related field is required. A Master’s degree or Professional Actuarial Designations (e.g., FSA, EA) is preferred.
- Experience: Minimum of 3-5 years of experience in public sector benefits administration, pension plan management, or actuarial science.
- Technical Proficiency: Advanced proficiency in Microsoft Office Suite (Excel, Access) and experience with Human Resources Information Systems (HRIS) or benefits administration software.
- Knowledge: Deep understanding of ERISA regulations, state retirement laws, and collective bargaining agreements.
- Communication Skills: Excellent verbal and written communication skills with the ability to explain complex financial concepts to diverse audiences.