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  5. State Agencies Bulletin No. 1699

State Agencies Bulletin No. 1699

Subject
Tier 5 Pensionable Overtime Earnings Limit for Calendar Year 2019 for Employees Enrolled in the New York State and Local Retirement System (Plan Type 7Y, Employee’s Retirement System (ERS)) and New York State Teachers’ Retirement System
(Plan Type 7X, TRS)
Date Issued
December 19, 2018

Purpose

To notify agencies that the pensionable overtime earnings limit for Tier 5 Employee Retirement System (ERS) and Tier 5 Teacher’s Retirement System (TRS) members for calendar year 2019 is $19,571.60

Affected Employees

Employees who are Tier 5 members of ERS Plan Type 7Y and TRS Plan Type 7X

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.

Effective Date(s)

Institution Paychecks dated January 3, 2019

Administration Paychecks dated January 9, 2019

OSC Actions

OSC will update PayServ to reflect the pensionable overtime earnings limit for 2019 of $19,571.60 for Tier 5 ERS and TRS members.

Questions

Questions regarding this bulletin may be directed to the Payroll Retirement mailbox.