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Date: March 25, 2016

Bulletin Number: 1479

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Subject Tier 6 Pensionable Overtime Earnings Limit for Fiscal Year 2016 for Employees Enrolled in the New York State and Local  Retirement System (Plan Type 7Y, Employee’s Retirement System

Purpose To notify agencies that the pensionable overtime earnings limit for Tier 6 Employee Retirement System (ERS) members is $15,608.

Background In accordance with Chapter 18 of the Laws of 2012, Legislation established an annual, pensionable overtime earnings limit of $15,000 effective April 1, 2013. This amount increases each fiscal year based on the Consumer Price Index on December 31st of previous year.

Affected Employees

Employees who are Tier 6 members of ERS Plan Type 7Y.

Effective Dates

Administration Paychecks dated April 6, 2016.
Institution Paychecks dated April 14, 2016.

OSC Actions OSC will update PayServ to reflect the pensionable overtime earnings limit for the 2016 fiscal year in accordance with ERS publications to $15,608.

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