Subject
Tier 6 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 NYS Teachers’ Retirement System (Plan Type 7X, (TRS))
Date Issued
January 3, 2019
Purpose
To notify agencies that the pensionable overtime earnings limit for Tier 6 ERS and Tier 6 TRS members for calendar year 2019 is $16,779
Affected Employees
Employees who are Tier 6 members of ERS Plan Type 7Y and TRS Plan Type 7X
Background
In accordance with Chapter 368 of the Laws of 2018, the overtime cap increases each calendar year. The amount of the increase is based on the increase in the Consumer Price Index for the one-year period ending September 30 of the previous year.
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 OT earnings limit for 2019 of $16,779.00 for Tier 6 ERS and TRS members.
Questions
Questions regarding this bulletin may be directed to the Payroll Retirement mailbox.