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.
Employees who are Tier 6 members of TRS Plan Type 7X are affected.
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 as of Administration Paychecks dated July 8, 2020.
OSC will update PayServ to reflect the pensionable OT earning limit for 2020/21 of $17,067.00 for Tier 6 TRS.
Questions regarding this bulletin may be directed to the Payroll Retirement mailbox.