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Pension Analyst, MaBSTOA

Job ID: PS105008
Business Unit: MTA Headquarters
Location: New York, NY, United States
Regular/Temporary: Regular
Department: MaBSTOA Pension Administration
Date Posted: Dec 21, 2023

Description

JOB TITLE:                          Pension Analyst, Mabstoa
SALARY RANGE:                $61,261- $80,405
HAY POINTS:                       342
DEPT/DIV:                           MTA Consolidated Pension
SUPERVISOR:                    Deputy Director Consolidated Pension Unit
LOCATION:                          2 Broadway New York, NY 10004
HOURS OF WORK:             9:00 am - 5:30 pm (7 1/2 hours/day)
                            
      
This position is eligible for telework which is currently one day per week. New hires are eligible to apply 30 days after their effective date of hire.

This position is responsible for executing technical work of varying degrees of difficulty in the field of retirement benefit examination for MaBSTOA Pension Plan and provide heavy support to NYCERS for NYC Transit and B&T employees.  The function includes but is not limited to, making membership eligibility determinations for pension membership, pre-membership rights, vested benefits rights, regular/military buy-backs, tier status, retirement benefits, death benefits, post-retirement death benefits, deduction cancellation, loans, refunds, and revisions.  The Pension Analyst performs complex computations regarding salary, service and various benefits accruing to potential and actual retirees and their beneficiaries; corresponds with employees, pensioners, other agencies, attorneys, Workers’ Compensation Board, etc. in response to various inquiries/requests; reviews and implements provisions pursuant to QDROs (Qualified Domestic Relations Orders); provides retirement counseling to potential and current pension plan members

  • Determine eligibility for pension membership, tier status, contribution rates, cancellation of deductions, pre-membership rights including regular/military buy-backs, vested benefits rights, refunds, loans and death benefit payments. 
  • Research and respond to customers’ inquiries from Siebel system, the walk-in center, employee calls.  Utilize Universal Content Manager (UCM) for workflows and resolve pension requests/inquiries.  Also provide detailed calculation explanations upon request
  • Provide retirement counseling to current and potential pension plan members. Performing complex computations of various accruing benefits, service credits, pensionable earnings and communicating the results to potential retiree or their beneficiaries
  • Evaluate complex service and salary data to determine monthly pension amount and retirement options.
  • Review and implement provisions pursuant to QDROs (Qualified Domestic Relations Orders), Child Support Income Executions and other legal documents to ensure equitable pension distribution as mandated by the court.
  • Correspond with other agencies, attorneys, Workers’ Compensation Board, etc. in response to inquiries
  • Maintain, research and update files and retrieve records utilizing electronic and paper sources.
  • Other duties as assigned.

  • Knowledge of applicable pension plan rules and ensure that the rules are applied under the correct conditions. 
  • Identify pensionable verses non-pensionable earnings.  Ensure that applicable earnings are used in the computation of retirement benefits and pension buy backs.
  • Monitor various payroll deductions to ensure timely set-up of payroll deductions and/or rate cancellations, if necessary, take corrective action to resolve set-up errors. 
  • May perform analysis and research.  Reports findings to immediate supervisor.  May be involved with quality assurance reviews as directed by immediate supervisor.
  • Exercises proper judgment in responding to inquiries while referring more complex issues to the appropriate individuals within the department.
  • Supports implementation of policies and procedures for the department’s group.  Does not make recommendations for policy and procedural changes without final approval from the Chief.
  • Does not provide input into overall strategy for the department.
  • Determine if Pension refunds are owed to employees due to overpayment.  Determine pension deficiencies and/or arrears and take appropriate action to ensure contributions are taken from employee’s paychecks.
  • Identify and take action to fix incorrection pension plan set-up
  • Recalculate pension to incorporate retroactive wage increases (RWI)
  • Aid in the monthly pension reconciliation
 
Competencies
  • Excellent interpersonal and communication (verbal and written) skills.
  • Proficiency in and/or ability to learn organizational and presentation skills.
  • Proficiency in and/or ability to learn to work with all internal levels within a given organization.
  • Proficiency in and/or ability to learn communicate and interact well with external agencies. 
  • Proficiency in and/or ability to complete short- and long-term projects effectively and as efficiently as possible.
  • Proficiency in and/or ability to learn analytical and/or quantitative skills.
  • Technical competence in Peoplesoft and similar programs
  • Demonstrated proficiency in or ability to learn the Microsoft Office Suite or comparable applications, i.e., Word, Excel, PowerPoint, and Outlook.
  • High skill level in all facets of communication (written, oral, interpersonal and presentational).  Ability to handle challenges, especially dealing with difficult people.
  • Special and/or ad-hoc projects and assignments will be required as requested.
  • May need to work outside of normal work hours (i.e. evenings and weekends)
  • Travel may be required to other MTA locations or other external sites

  • Bachelor’s degree from an accredited college and three (3) years full-time professional experience in Accounting, Finance and/or employee Benefits working with Defined Benefits pension plans or an equivalent combination of education and experience from an accredited college may be considered in lieu of a degree.
  • Knowledge of defined benefit plans. Background in New York City or New York State Retirement Systems is preferred.  Knowledge of New York State Retirement and Social Security Law

OTHER INFORMATION:

As an employee of MTA Headquarters, you may be required to complete an annual financial disclosure statement with the State of New York, if your position earns more than $108,638 (this figure is subject to change) per year or if the position is designated as a policy maker.

HOW TO APPLY:  

MTA employees must apply via My MTA Portal. You can submit an online application by logging into My MTA Portal, clicking the My Job Search ribbon, and selecting the “Careers” link.

Logging in through My MTA Portal will link your BSC ID number to your job application to identify you as an internal applicant.

Equal Employment Opportunity

MTA and its subsidiary and affiliated agencies are Equal Opportunity Employers, including with respect to veteran status and individuals with disabilities.

The MTA encourages qualified applicants from diverse backgrounds, experiences, and abilities, including military service members, to apply.

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