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Associate, Benefits - Retirement Plans
New York Life Insurance
New York, NY, United States
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New York Life Insurance Company is the largest mutual life insurance company in the United States. Founded in 1845 and headquartered in New York City, New York Life reported 2017 operating earnings of $2.06 billion. Total assets under management at year end 2017, with affiliates, totaled $586 billion.
New York Life holds the highest possible financial strength ratings currently awarded to any life insurer from all four of the major ratings agencies: A.M. Best, A++; Fitch AAA; Moody’s Aaa; Standard & Poor’s AA+ (Source: Individual independent rating agency commentary as of 8/1/17).
Financial strength, integrity and humanity—the values upon which New York Life was founded—have guided the company’s decisions and actions for over 170 years.
At New York Life we value our employees and agents. One of the many ways we demostrate our apprecaition is through providing a competitive benefits package. This opportunity is to become part of the Human Resource team in a dynamic, fast paced, collaborative environment. In this role you will be supporting the New York Life Retirement Plans to ensure they are administered properly and provide the desired level of employee engagement. Benefit plans include (but not limited to) Pension and 401(k) plans. The associate will work closely with our third party benefits adminstrator to ensure the plans are managed effectively. They will manage long term project such as the Cash Balance credit posting, Annual Funding Notice, 5500 Audit and other special projects. They will assist in determining the impact of new policies or provisions and changes in plan design. They will help to develop communications to educate and increase the perceived value of NYL retirement plans. They research issues that arise and develop a plan to rectify the problem. They must be comfortable working with large sets of data and perform data analytics. Requires a bachelor's degree and 2-4 years of related experience.
Under the general direction of the Benefits Senior Associate, this position helps support the following activities:
• Work closely with our Benefits Recordkeeper to on Defined Benefit and Defined Contribution benefit administration for New York Life employees and agents.
• Help create communication materials, such as presentations and information packages, to keep employees, agents and management updated on plan changes and amendments
•Support the team in evaluating benefit practices by benchmarking best practices; researching industry and employment trends; tracking legislation and estimating impact.
• Support benefits projects such as the annual Cash Balance credit posting, Annual Funding Notices, 5500 Audit and other special projects
• Generate easy-to-interpret reports based on collected data
• Perform complex benefit calculations, coordinating a variety of inputs from internal and external sources
• Provides management planning and control information by collecting, analyzing, and summarizing benefit data and trends.
• Maintains employee and agent confidence by keeping benefit information confidential.
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
EOE M/F/D/V
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