Pension Analyst, MaBSTOA

Description

• 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

• 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