Purpose
The purpose of this bulletin is to notify agencies that the pensionable overtime earnings (OT) limit for Tier 6 Employee Retirement System (ERS) members for calendar year 2021 is $17,301.00.
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 of the previous year.
Effective Dates
Effective beginning Administration paychecks dated January 6, 2021 and Institution paychecks dated January 14, 2021.
OSC Actions
OSC will update PayServ to reflect the pensionable OT earning limit for 2021 of $17,301.00 for Tier 6 ERS members.
Questions
Questions regarding this bulletin may be directed to the Payroll Retirement mailbox.