Defined Benefit Consultant
Job Title: Defined Benefit Consultant
Location: [Specify Location or Remote]
Employment Type: Full-Time
Department: Public Sector Consulting
Reports To: Director of Retirement Services / Senior Partner
Job Summary
The Defined Benefit Consultant serves as a strategic advisor to public sector clients, helping them design, manage, and optimize defined benefit retirement plans. This role requires deep expertise in pension regulations, actuarial principles, and public policy, with a focus on delivering cost-effective and compliant retirement solutions that support workforce sustainability and fiscal responsibility.
Key Responsibilities
Client Advisory & Strategy
- Advise public sector clients on defined benefit plan design, funding strategies, and regulatory compliance.
- Conduct plan assessments and benchmarking to ensure competitiveness and fiscal health.
- Develop and present strategic recommendations to boards, HR teams, and finance departments.
Plan Management & Compliance
- Ensure plans comply with federal, state, and local regulations (e.g., IRS, ERISA, GASB).
- Collaborate with actuaries to interpret valuation reports and funding projections.
- Support clients during audits and regulatory reviews.
Stakeholder Engagement
- Facilitate workshops and meetings with client stakeholders, including unions and elected officials.
- Translate complex pension concepts into accessible language for non-technical audiences.
- Prepare communication materials for plan participants and retirees.
Data Analysis & Reporting
- Analyze demographic, financial, and actuarial data to inform plan decisions.
- Prepare reports on plan performance, liabilities, and funding status.
- Monitor legislative and market trends affecting public pensions.
Qualifications
- Bachelor's degree in Finance, Public Administration, Actuarial Science, or related field (Master's preferred).
- Minimum 10 years of experience in defined benefit consulting, preferably with public sector clients.
- Strong understanding of pension regulations, actuarial principles, and public finance.
- Excellent communication and presentation skills.
- Proficiency in Excel, pension modeling tools, and data visualization platforms.
- CEBS, ASA, or EA certification preferred.
FAQs
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