Subject
Tier 6 Pensionable Overtime Earnings (OT) Limit for Calendar Year 2020 for employees enrolled in the New York State and Local Retirement System (Plan Type 7Y, Employee’s Retirement System (ERS))
Date Issued
December 10, 2019
Purpose
The purpose of this bulletin is to notify agencies that the pensionable overtime earnings limit for Tier 6 ERS members for calendar year 2020 is $17,067.00.
Affected Employees
Employees who are Tier 6 members of ERS Plan Type 7Y are affected.
Background
In accordance with Chapter 368 of the Laws of 2018, the OT 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 2, 2020
Administration Paychecks dated January 8, 2020
OSC Actions
OSC will update PayServ to reflect the pensionable OT earning limit for 2020 of $17,067.00 for Tier 6 ERS members.
Questions
Questions regarding this bulletin may be directed to the Payroll Retirement mailbox.