Date: December 15, 2016

Bulletin Number: 1534

Subject Tier 5 Pensionable Overtime Earnings Limit for Calendar Year 2017 for Employees Enrolled in the New York State and Local  Retirement System (Plan Type 7Y, Employee’s Retirement System)

Purpose To notify agencies that the pensionable overtime earnings limit for Tier 5 Employee Retirement System (ERS) members for calendar year 2017 is $18,448.11.

Background In accordance with Chapter 504 of the Laws of 2009, Legislation established an annual, pensionable overtime earnings limit of $15,000 effective January 1, 2010. This amount increases each calendar year thereafter by three percent.  The overtime earnings limit for 2017, 2018, and 2019 have been calculated by the New York State and Local Retirement System.

Affected Employees

Employees who are Tier 5 members of ERS Plan Type 7Y.

Effective Dates Institution Paychecks dated January 5, 2017.
Administration Paychecks dated January 11, 2017.

OSC Actions OSC will update PayServ each year to reflect the pensionable overtime earnings limit for that year for Tier 5 ERS members as follows:

ERS Overtime Limit by Calendar Year
Year Overtime Limit
2017 $18,448.11
2018 $19,001.55
2019 $19,571.60

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