Purpose

To notify agencies that the pensionable overtime earnings limit for calendar year 2013 is $16,390.91.

Affected Employees

NYS employees who are Tier 5 members of ERS or TRS

Effective Date(s)

Administration Paychecks dated  January 2, 2013

Institution Paychecks dated January 10, 2013

Background

In accordance with Chapter 504 of the Laws of 2009, the overtime limit will be increased by three percent effective January 1st.

OSC Actions

Once processing is complete for the final 2012 paycheck (Administration checks dated December 19, 2012, Institution checks dated December 27, 2012), OSC will update PayServ to reflect the pensionable overtime earnings limit of $16,390.91 for 2013.

Questions

Questions regarding this bulletin may be directed to Payroll Deduction mailbox.