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Date: December 2, 2011

Bulletin Number: 1112

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Subject

Tier 5 Pensionable Overtime Earnings Limit for Calendar Year 2012 for Employees Enrolled in the New York State Employees Retirement System (ERS) and the New York State Teachers’ Retirement System (TRS).

Purpose

To notify agencies that the pensionable overtime earnings limit for calendar year 2012 is $15,913.50.

Affected Employees

Employees who are Tier 5 members of ERS or TRS

Effective Date(s)

Administration Paychecks dated 1/4/12
Institution Paychecks dated 1/12/12

Background

In accordance with Chapter 504 of the Laws of 2009, the overtime limit will be increased by three percent effective January 1st.

OSC Actions

Once processing is complete for the final 2011 paycheck (Administration checks dated 12/21/11, Institution checks dated 12/29/11), OSC will update PayServ to reflect the pensionable overtime earnings limit of $15,913.50 for 2012.

Questions Questions regarding this bulletin may be directed to Payroll Deduction mailbox.