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State Correction Officers and Security Hospital Treatment Assistants Plan

For ERS Tier 3, 5 and 6 Members (Article 14-CO)

IRS Pension Limitation

Internal Revenue Code Section 401(a)(17) limits the amount of earnings that qualified pension plans, including the New York State and Local Retirement System, may use in calculating benefits. It affects members who join on or after April 1, 1996, and currently excludes earnings over $265,000 (effective April 1, 2015) in the State’s fiscal year (April 1st – March 31st). The amount is set by federal law and is periodically adjusted for inflation. In addition, for Tier 6 members, reportable salary may not exceed the salary of the Governor of the State of New York, which is set by law and is currently $179,000.