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State Agencies Bulletin No. 1562

… Paychecks for fiscal year 2017-18 Background In accordance with Chapter 18 of the Laws of 2012, overtime pay in excess of 15% of a member’s regular annual wages cannot be used in the calculation of a member’s final average salary. OSC Actions Once processing …

Limitations – Special 20- and 25-Year Plans

… your tier. Earnings above the limit will not be included in your pension calculation. For examples of how the limit is … page . Tiers 2, 3 (Article 11) and 5 If the earnings in any 12-month period in your FAE exceed the average of the previous two years by …

Restrictions – State Police Plan

Restrictions – Special 20- and 25-Year Plans

… Overtime: For Tier 5 and 6 members, the total amount of overtime that can be included in your FAE calculation is limited to 15 percent of earnings. Certain public safety overtime: Your employer … and cannot be included in your pensionable earnings. As of July 1, 2019, public safety overtime that is paid to you …

Service Retirement Benefit – En-Con Police Officers Plan

EnCon Police Officers Plan information for PFRS Tier 1 2 3 5 and 6 members covered by Section 383b Covers pension disability and death benefits

Comparison of PFRS Benefits

…   Below is a comparison of Police and Fire Retirement System (PFRS) benefits by … 2012 April 1, 2012 and after Vesting After earning 5 years of service credit. Employee Contributions None if employer … their plan’s minimum service requirement, regardless of age. Members in regular plans can retire with full …

State Agencies Bulletin No. 1623

… Purpose To notify agencies of the 2018 maximum salary limit for … 408 (k) (3) (C), and 408 (k) (6) (D) (ii) will increase to $275,000 for the 2018 plan year, which is the calendar … dated January 10, 2018 OSC Actions OSC will update PayServ to reflect the Maximum Salary Limit for 2018 Calendar Year. …

State Agencies Bulletin No. 1450

… members for calendar year 2016 is $17,910.78. Background In accordance with Chapter 504 of the Laws of 2009, …

State Agencies Bulletin No. 1534

… Purpose To notify agencies that the pensionable overtime earnings … 11, 2017 OSC Actions OSC will update PayServ each year to reflect the pensionable overtime earnings limit for that … Questions regarding this bulletin may be directed to the Payroll Retirement mailbox. …

State Agencies Bulletin No. 1697

… Purpose To notify agencies of the 2019 maximum salary limit for … 408 (k) (3) (C), and 408 (k) (6) (D) (ii) will increase to $280,000 for the 2019 plan year, which is the calendar … dated January 9, 2019 OSC Actions OSC will update PayServ to reflect the Maximum Salary Limit for the 2019 Calendar …

State Agencies Bulletin No. 2301

… agencies that the pensionable overtime (OT) earnings limit for Tier 6 members of the New York City Employee Retirement … York City Board of Education Retirement System (NYCBERS) for the 2025 plan year is $20,958.00. Affected Employees: … NYCTRS, and NYCBERS are affected. Background: OT limit for Tier 6 began in State fiscal year 2012-13 at $15,000. The …

State Agencies Bulletin No. 2188

… Purpose: The purpose of this bulletin is to notify agencies that the pensionable overtime … Board of Education Retirement System (NYCBERS) for the 2024 plan year is $20,459. Affected Employees: Tier 6 members … affected employees. Questions: Questions regarding this bulletin may be directed to the Payroll Retirement mailbox. …

State Agencies Bulletin No. 2092

… (OT) earnings limit for Tier 6 members of the New York City Employee Retirement System (NYCERS), New York City Teachers Retirement System (NYCTRS) and the New York City Board of Education Retirement System (NYCBERS) for the … Ce OT earnings limit for Tier 6 members of the New York City Employee Retirement System NYCERS New York City Teity …

State Agencies Bulletin No. 1980

… This year (2022) the OT limit is $18,233.00. Effective Dates Effective Institution paychecks dated January 13, 2022. OSC Actions OSC will update the Pension Plan Table in PayServ to reflect the $18,233.00 …

State Agencies Bulletin No. 1978

… notify agencies of the 2022 maximum salary limit for ORP and VDC in Tier 6 plan members. Affected Employees ORP and VDC Tier 6 plan members are affected. Background In … the Internal Revenue code, providing dollar limitations on benefits and contributions under qualified retirement plans, …

State Agencies Bulletin No. 1796

… is to notify agencies of the 2020 maximum salary limit for members of ORP and VDC in Tier 6. Background In … Section 415 of the Internal Revenue code, which provides for dollar limitations on benefits and contributions under … (C), and 408 (k) (6) (D) (ii) will increase to $285,000 for the 2020 plan year, which is the calendar year for ORP …

State Agencies Bulletin No. 2296

… State Deferred Compensation Plan for the calendar year 2025 Background: Pursuant to IRS IR-2024-285, released on … for employees aged 50 and over remains at $7,500 for 2025 for a combined maximum contribution limit of $31,000 in 2025. Effective January 1, 2025, Section 109 of the Secure …

New York’s Paid Family Leave Program

… family member deployed abroad on active military service. 1 The program began providing benefits on January 1, 2018; maximum weeks of leave and percentages of weekly … benefit payments were phased in over four years by January 1, 2021. PFL is an enhancement of previously available …

Service Retirement Benefit – Regional State Park Police Plan

… You may retire at any age after completing 25 years of regional state park or New York State police officer … state park police officer. The Benefit With 25 years of creditable service, your retirement benefit will equal one-half (50 percent) of your FAS. For each year of service beyond 25 years, …

State Agencies Bulletin No. 1882

… 2021 maximum salary limit for members of ORP and VDC in Tier 6. Affected Employees Employees who are Tier 6 members of ORP or VDC are affected. Background In … 2021 plan year, which is the calendar year for ORP and VDC Tier 6 participants. Effective Dates Effective as of …