Purpose:

The purpose of this bulletin is to notify agencies that the pensionable overtime earnings limit for Tier 5 ERS members for calendar year 2025 is $23,369.51.

Affected Employees:

Employees who are Tier 5 members of ERS Plan Type 87 are affected.

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 (3%).

Effective Dates:

Effective Administration paychecks beginning January 9, 2025 and Institution paychecks beginning January 15, 2025.

OSC Actions:

OSC will update PayServ to reflect the pensionable overtime earnings limit for 2025 of $23,369.51 for Tier 5 ERS members.

Questions:

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