Purpose:

The purpose of this bulletin is to notify agencies of the pensionable overtime earnings limit for Tier 6 ERS members for calendar year 2024 is $20,459.00.

Affected Employees:

Tier 6 members of ERS Plan Type 87 are affected.

Background:

In accordance with Chapter 368 of the Laws of 2018, the overtime limit increases each calendar year. The amount of the increase is based on the Consumer Price Index of the previous year.

Effective Dates:

Effective beginning Administration paychecks dated January 3, 2024, and Institution paychecks dated January 11, 2024.

OSC Actions:

OSC will update PayServ to reflect the pensionable overtime earnings limit for 2024 to $20,459.00 for Tier 6 ERS members.

Questions:

Questions regarding this bulletin may be directed to the Payroll Retirement mailbox.