Subject
Tier 6 Pensionable Overtime (OT) Earnings Limit for School Year 2020/21 For Employees Enrolled in New York State Teachers’ Retirement System (Plan Type 7X -TRS)
Date Issued
July 7, 2020
Purpose
The purpose of this bulletin is to notify agencies that the pensionable overtime earnings limit of Tier 6 TRS members for school year 2020/21 is $17,067.00.
Affected Employees
Employees who are Tier 6 members of TRS Plan Type 7X 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)
Effective as of Administration Paychecks dated July 8, 2020.
OSC Actions
OSC will update PayServ to reflect the pensionable OT earning limit for 2020/21 of $17,067.00 for Tier 6 TRS.
Questions
Questions regarding this bulletin may be directed to the Payroll Retirement mailbox.