November 2015

 
 

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Read Employer Forum and Other Newsletters Online

The current edition of Employer Forum is available on our website. Please make sure your employees know they can find the current issues of The Update (for active Employees’ Retirement System members) and The Sentinel (for active Police and Fire Retirement System members) online as well.

 
 
 

Heads Up

Reporting Overtime Compensation for Tier 5 and 6 Members

Tier 5 has an overtime cap for the calendar year. For calendar year 2015, the overtime limit for ERS Tier 5 members is $17,389.11, while PFRS Tier 5 members have a cap of 15 percent of their regular salary.

Tier 6 also has an overtime cap, which is based on the State fiscal year for ERS members and the calendar year for PFRS members. The overtime limit for ERS Tier 6 members is $15,608 for the fiscal year ending March 31, 2016, while PFRS Tier 6 members have a cap of 15 percent of their regular salary for calendar year 2015.

Please email our Employer Services Bureau at RTEmpSer@osc.state.ny.us if you have questions.

 
 
 

You Should Know

Your annual invoice is available online. Your payment must be received on or before December 15, 2015 if you choose to pay the discounted amount; otherwise the full amount of your invoice will be due on February 1, 2016. You can read our Invoice FAQs if you have questions.

 
 
 
 
 
 
 
   
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