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Pension Calculation Jobs (NOW HIRING)

Imh

Retirement Consultant

Murray, UT · On-site

Provide support in the key functional areas of Retirement including the administration of the defined benefit plans, including pension calculations and administration, benefit payments, and retiree ...

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$15

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$39

How much do pension calculation jobs pay per hour?

As of Sep 6, 2026, the average hourly pay for pension calculation in the United States is $25.75, according to ZipRecruiter salary data. Most workers in this role earn between $20.43 and $30.77 per hour, depending on experience, location, and employer.

What does a pension calculation specialist do?

A Pension Calculation Specialist is responsible for determining the retirement benefits that employees are entitled to receive from their pension plans. They analyze employee data, apply plan rules, and ensure calculations comply with legal and regulatory standards. Their work is essential for providing accurate benefit statements and helping retirees understand their pension options. They often collaborate with HR departments, actuaries, and plan participants to resolve discrepancies and answer questions.

What are some common challenges faced in a pension calculation role and how can they be managed?

Professionals in Pension Calculation often encounter challenges such as interpreting complex plan documents, managing frequent regulatory updates, and ensuring absolute accuracy in calculations. Staying current with pension laws and plan amendments is crucial, as errors can significantly impact both the employer and the plan participants. To manage these challenges, it's helpful to develop strong attention to detail, collaborate closely with actuaries and benefits administrators, and leverage specialized pension software tools. Regular training and open communication within the team also contribute to maintaining high standards and reducing mistakes.

What are the key skills and qualifications needed to thrive as a pension calculation specialist, and why are they important?

To thrive as a Pension Calculation Specialist, you need strong mathematical aptitude, attention to detail, and a solid understanding of pension plan regulations, often supported by a degree in finance, mathematics, or a related field. Familiarity with pension administration software, Excel, and sometimes actuarial tools or relevant certifications is typically required. Excellent analytical thinking, problem-solving abilities, and effective communication skills help you interpret complex data and explain pension calculations to clients or colleagues. These competencies are essential to ensure accurate benefit calculations, regulatory compliance, and clear communication with plan participants.

What is the difference between Pension Calculation vs Pension Administrator?

AspectPension CalculationPension Administrator
Primary RoleCalculates pension benefits based on data and formulasManages and processes pension plans, including calculations
Required SkillsMathematical, analytical, knowledge of pension formulasAdministrative, communication, data management
Work EnvironmentFinance or actuarial departmentsHR or pension department
CertificationsActuarial or financial certifications often preferredAdministrative or pension-specific certifications

While Pension Calculation focuses on determining pension benefits using formulas and data analysis, Pension Administrator oversees the entire pension process, including calculations, record-keeping, and customer service. Both roles require understanding pension plans, but their responsibilities differ significantly.

What is a typical pension calculation?

A pension calculation typically involves determining the retirement benefit based on factors such as years of service, salary history, and a predetermined accrual rate. Pension administrators often use formulas that multiply these factors to estimate the monthly or lump-sum benefit, with calculations performed using specialized pension software or spreadsheets. Accurate calculation requires understanding of plan-specific rules and eligibility criteria.
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Pension Calculation jobs near you
Infographic showing various Pension Calculation job openings in the United States as of August 2026, with employment types broken down into 78% Full Time, and 22% Part Time. Highlights an 67% In-person, 11% Hybrid, and 22% Remote job distribution, with an average salary of $53,551 per year, or $25.7 per hour.

Sr. Pension Consulting Actuary-Multiemployer

Kalos Consulting, Inc.

Chicago, IL • Hybrid

Full-time

Medical, Dental, Vision, Retirement, PTO

Re-posted 29 days ago

Job description

Company Highlights

  • Our client has become the premier independent provider of actuarial and risk management services to the insurance industry and self-insured organizations worldwide. Their groundbreaking work in employee benefits and financial risk management has led to significant innovations in retirement planning.
  • For over 70 years, the firm has continually expanded their capabilities and now include enterprise risk management, retirement plan administration, predictive analytics, healthcare efficiency, and a range of other consulting and technology solutions.
  • They have built a solid foundation on inclusive innovation by working together with the best from all over the world and realizing the variety and uniqueness in everyone truly makes them a stronger organization.
  • This company has been celebrated with accolades year after year including the U.S. Captive Review Awards – these awards recognize captive insurance products and services providers offering high level of excellence.

Benefits and Features

  • Most innovative compensation model in the industry
  • Health, Dental, Vision Coverage
  • Flexible Spending Accounts for dependent care, transportation, and additional medical expenses
  • 401(k) with company match and Profit Sharing
  • Paid Time Off (PTO)
  • Additional voluntary benefit opportunities
  • Employee engagement program
  • Actuarial Exams Program

The Role you will Play

  • As part of the Employee Benefits Practice, the Pension Consulting Actuary - EB will supervise and review client projects including funding valuations, government filings, benefit calculations, nondiscrimination testing, etc.
  • This role will manage project staff, budgets, and deadlines as well as lead, direct, and supervise actuarial analysts.
  • The Consulting Actuary - EB will provide superior communication to all clients regarding project implications and potential solutions.
  • This role is entrusted with inspiring a collaborative team environment while encouraging growth in all members of the team through knowledge and idea sharing.

Community Highlights

  • The is a hybrid role based in the Chicago office.
  • As a large city with surrounding suburbs, Chicago offers a multitude of housing options to suit every lifestyle and a variety of transportation resources for traveling and sightseeing.
  • Chicago is rich in culture, arts and entertainment.

Background Profile

  • EA required; ASA, FSA, or FCA a plus
  • 10+ years of multiemployer pension actuarial experience at the consultant level
  • Working knowledge of cash balance pension plans, multiemployer or public pension, and OPEB plans
  • Familiarity with ProVal
  • Strong communication skills, including client consulting, presentations, and publications
  • Hands-on programming / technical / modeling abilities