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Date: December 14, 2017

Bulletin Number: 1620

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Subject Tier 6 Pensionable Overtime Earnings Limit for calendar year 2018 for Employees Enrolled in the New York State and Local  Retirement System (Plan Type 7Y, Employee’s Retirement System)

Purpose To notify agencies of changes to the pensionable overtime earnings limit for Tier 6 Employee Retirement System (ERS) members.

Background The maximum amount of overtime that can be included in the final average salary of a Tier 6 member of the New York State and Local Employees' Retirement System (ERS) will now be calculated based on the calendar year as a result of Chapter 368 of the Laws of 2017, which was signed into law on October 23, 2017.

Affected Employees

Employees who are Tier 6 members of ERS Plan Type 7Y.
Effective Dates Institution Paychecks dated January 4, 2018.
Administration Paychecks dated January 10, 2018.

OSC Actions OSC will update PayServ to reflect the pensionable overtime earnings limit of $16,406 for calendar year 2018 in accordance with ERS publications.

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