Purpose
The purpose of this bulletin is to notify agencies that the pensionable overtime earnings limit for Tier 6 TRS members for school year 2021-2022 is $17,301.
Affected Employees
Employees who are Tier 6 members of TRS Plan Type 86 are affected.
Background
The OT limit for Tier 6 began in State fiscal year 2012-2013 at $15,000. 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 Dates
Effective beginning Administration paychecks dated July 7, 2021.
OSC Actions
OSC will update PayServ to reflect the pensionable OT earning limit for 2021-2022 of $17,301 for Tier 6 TRS.
Questions
Questions regarding this bulletin may be directed to the Payroll Retirement mailbox.