Purpose
To notify agencies that the pensionable overtime earnings limit for Tier 5 Employee Retirement System (ERS) members for calendar year 2017 is $18,448.11.
Background
In accordance with Chapter 504 of the Laws of 2009, Legislation established an annual, pensionable overtime earnings limit of $15,000 effective January 1, 2010. This amount increases each calendar year thereafter by three percent. The overtime earnings limit for 2017, 2018, and 2019 have been calculated by the New York State and Local Retirement System.
Affected Employees
Employees who are Tier 5 members of ERS Plan Type 7Y
Effective Dates
Institution Paychecks dated January 5, 2017
Administration Paychecks dated January 11, 2017
OSC Actions
OSC will update PayServ each year to reflect the pensionable overtime earnings limit for that year for Tier 5 ERS members as follows:
| ERS Overtime Limit by Calendar Year | |
| Year | Overtime Limit |
| 2017 | $18,448.11 |
| 2018 | $19,001.55 |
| 2019 | $19,571.60 |
Questions
Questions regarding this bulletin may be directed to the Payroll Retirement mailbox.