Job Information
New York Life Insurance Company Associate - Benefits Analyst in New York, New York
Location Designation: [[cust_rolelocationdesignation]]
When you join New York Life, you’re joining a company that values career development, collaboration, innovation, and inclusiveness. We want employees to feel proud about being part of a company that is committed to doing the right thing. You’ll have the opportunity to grow your career while developing personally and professionally through various resources and programs. New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.
This position is hybrid - Tuesday - Thursday in the New York Office and Monday and Friday work from home.
The Associate rolesupportsthe lead DB and DC roles with maintaining the day-to-day functions of the qualified and nonqualified defined benefit and defined contribution plans of New York Life and its subsidiaries. Responsibilities include assisting with annual enrollment for the Deferred Compensation Plans, maintaining the 401(k) Plan accounting and monthly reconciliations, gathering, and reviewing data, preparing eligibility files as well assupportingIRS forms 5500 preparation and plan audits reviews. This role should be filled by a passionate entry level professional with excellentquantitativeandanalyticalskills.
Responsibilities
Support the Annual Enrollment for Deferred Compensation Plans
Prepare annual technical updates (limits, process change, etc.) to plan materials (letters, presentations, etc.) and coordinate edits with internal and external stakeholders.
Request or generate eligible files and complete first level data review.
Support scheduling and announcements for Annual Enrollment workshops
Support testing of vendor websites
Data gathering for yearend Non-Discrimination Testing
Support gathering and data scrubbing W-2 and lease employee data for discrimination testing and HCE determination.
Resolve data issues and conflicts.
Support the Annual plan 5500 Audits with the external auditors.
Research and gather data for audit samples (deferral, payments, etc.)
Maintain the 401(k) monthly reconciliation and create the first pass financial statements for the 5500 Schedule H at yearend.
Work with the plan leads to complete the various nonqualified plan FICA calculations and notifications.
Help with the creation and distribution of compliance notices (Fee Disclosure, Funding Notice, SAR)
Support leads with gathering and researching info for notices and coordinate mailings or email distribution with vendor.
Annual Company Contributions across various plans
Prepare and format data files for annual company contribution credits posting by vendor.
Support Special Projects (plan redesign, regulatory plan updates, vendor changes, etc.)
Qualifications and Experience
Bachelors' Degree (preferred in Mathematics or Accounting) and/or equivalent experience preferred.
Intermediate to Advanced Excel and database skills are required.
Excellent verbal and written communications.
2-3 years of retirement plans experience (401(k), Cash Balance, etc.)
Strong/Excellent quantitative, analytical, and problem-solving skills
Basic knowledge of retirement plans operations and regulatory requirements.
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#LI-HYBRID
Salary range: [[cust_salaryRangePosting]]
Overtime eligible: [[customString6]]
Discretionary bonus eligible: [[cust_merit]]
Sales bonus eligible: [[stockPackage]]
Click here to learn more about ourbenefits (https://www.newyorklife.com/careers/corporate/benefits) . Starting salary is dependent upon several factors including previous work experience, specific industry experience, and/or skills required.
Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation (https://www.newyorklife.com/foundation) . We're proud that due to our mutuality, we operate in the best interests of our policy owners. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visitLinkedIn (https://www.linkedin.com/company/newyorklife/) , ourNewsroom (https://www.newyorklife.com/newsroom/) and theCareers (https://www.newyorklife.com/about/careers/) page of www.NewYorkLife.com .
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