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