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Reconciliation Analyst Pension

Job ID: 2426
Business Unit: MTA Headquarters
Location: New York, NY, United States
Regular/Temporary: Regular
Department: MaBSTOA Pension Administration
Date Posted: Dec 15, 2023

Description

 

JOB TITLE:                     Reconciliation Analyst

SALARY RANGE:         $65,971 - $86,587

HAY POINTS:                 393

DEPT/DIV:                       MTA Consolidated Pension & Retirement Benefits

SUPERVISOR:               Deputy Directors, MTA Consolidated Pensions

LOCATION:                   2 Broadway New York, NY 10004

HOURS OF WORK:    9:00 am - 5:30 pm (7 1/2 hours/day)

DEADLINE:                    Post Until Filled               

 

SUMMARY:

 Consolidated Pensions, a unit in Compensation & Benefits, manages the administration and custodial operations of all MTA and MTA Agency-sponsored defined benefit pension plans. These plans cover almost all MTA family employees and retirees, other than those who are covered by New York City or New York State plans.

The defined benefit plans are highly complex and technical multi-article plans. They include separate tiers within the Plan and special sub-plans within the tiers. The MTA Defined Benefit Plan administers twelve separate basic benefit structures, and the MaBSTOA Pension Plan administers six. There are subdivisions of each.

The purpose of this position is to manage the administration of participant contributions, including the obligation of the participants to contribute and the impact on pensionable earnings. This includes the complex Tier 6 plans in the MTADBPP and MaBSTOA plans.

This position will be responsible for Participant Pension Data vital to the annual Actuarial Valuation and annual independent financial audit as well as be involved with recurring PeopleSoft upgrades and testing

RESPONSIBILITIES:

  • Identify and maintain correct Pension Tiers for active participants in the MaBSTOA and MTA Defined Benefit Pension Plans. Maintain correct pension status for all active and inactive participants.
  • Understand and manage the administrative complexities of pension plans Tier 6 rules. Manage participant contribution obligations.
  • Update employee contribution rates each April 1 for Tier 6 participants based on actual earnings.
  • Manage when employee contributions should stop each year as Tier 6 overtime limits are exceeded. Calculate employee contributions, with interest, that may have been overpaid each calendar year. Work with pension banking unit to reimburse overpaid employee contributions.
  • Work with Deputy Directors and Senior Manager in implementing new pension features/tiers as a result of legislation and collective bargaining.
  • Communicate with participants regarding their obligations to contribute.
  • Other duties as assigned.

KNOWLEDGE, SKILLS, AND ABILITIES:

  • Must be proficient in all aspects and articles of Plan in relation to MaBSTOA, LIRR, MNR, LI Bus, MTA Bus and MTA Police or possess extensive knowledge of one or all the following: the New York State Retirement System, the New York City Retirement System or ERISA pension plans.
  • Proficiency in computer applications pertaining to spreadsheet, database and presentation software including Microsoft Office Suite.
  • Experience utilizing PeopleSoft 9.2 is a plus.
  • Must have good communication skills and demonstrated ability to effectively interact with staff and representatives of constituent agencies.
  • Strong time and task management skills are required.
  • Must possess excellent analytical, math, and computer skills. Strong oral and written communication skills. Must be very detailed oriented. Good to superior knowledge of MaBSTOA and MTA DB Plan Articles or public or ERISA pension plans.
  • Must be a self-starter with ability to manage multiple tasks, and activities simultaneously with adherence to deadlines.
  • Must possess ability to identify, prioritize, evaluate, resolve, and escalate complex problems promptly.
  • Must possess strong interpersonal skills required with the ability to work and collaborate with all levels within and outside of an organization.
  • Must possess excellent time management skills, and ability to manage individual and team assignments.
  • Customer oriented; seeks solutions that will provide value to the custom.  

   

EDUCATION AND EXPERIENCE:

REQUIRED 

  • A Bachelor’s degree in Business Administration, Accounting, Human Resources or a related field or an equivalent combination of education and experience from an accredited college may be considered in lieu of a degree.
  • A minimum of 5 years of experience in accounting and/or employee benefits.

PREFERRED:

  • Prior experience working in a large, multi-faceted, fast-paced organization or governmental body.
  • Familiarity with the MTA’s policies and procedures.
  • Familiarity with the MTA’s collective bargaining procedures.

 

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:         

Qualified employees can submit an online application by clicking on the 'APPLY NOW' button from either the CAREERS HOME page or the JOB DESCRIPTION page.

 

For instructions on completing the online application, go to the MTA intranet site and click on the PeopleSoft Information hyperlink. From there select the User Guides hyperlink to gain access to the "Viewing/Applying for Jobs Online" guide under the Recruiting section of the page.

 

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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