January 2017

 
 

Hot Topics

State Comptroller DiNapoli has directed his Deputy for Investigations and Inspector General to evaluate the misconduct of a former pension fund employee thoroughly. When the review is complete, it will be released to the public. Read more...

 
 
 

Heads Up

Annual Invoices

Annual invoices are due February 1, 2017. If you did not prepay the discounted amount of your annual invoice by December 15, 2016, your full payment is due February 1, 2017. Please read our Invoice Quick Reference if you have questions about your invoice.

Pensionable Overtime
The amount of overtime that is pensionable for Tier 6 members is limited by a formula set by law. For ERS members, the limit is based on the State fiscal year (April 1 - March 31), and determined by the Consumer Price Index on December 31 of the previous year. The overtime limit for the current fiscal year is $15,721. PFRS members are limited to 15 percent of their regular annual salary per calendar year. Any overtime that exceeds these limits cannot be included in a member’s Final Average Salary (FAS). Visit our Tier 6 Benefit Information page for more information.

 
 
 

You Should Know

By participating in the Retiring Employees Acknowledgment Program (REAP), you can receive email notices of pending employee retirements and report final employee service, salary, and accrual information online. If you haven’t already signed up, take a few minutes to learn about the program.

 
 
 
 
 
 
 
   
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