Overview
New York State Retirement and Social Security Law limits pensionable earnings, that is, the earnings that can be included in the calculation of a NYSLRS pension.
Tier 6 members are subject to limits on the amount of overtime and the total earnings that can be included in their pension. Your employer should not withhold member contributions for overtime you earn above the limit.
You can find specific information about how your pension will be calculated in your retirement plan publication. Visit our Find Your NYSLRS Retirement Plan Publication page and follow the steps listed to find yours.
Overtime Limits
Overtime limits depend on whether you are in the Employees’ Retirement System (ERS) or the Police and Fire Retirement System (PFRS).
Employees’ Retirement System Members
Overtime pay above the annual calendar year limit cannot be used in your pension calculation.
The amount changes each year based on the increase in the Consumer Price Index for the one-year period ending September 30 of the previous year. (Before January 1, 2018, the overtime cap increased each State fiscal year, April 1 through March 31.)
| Calendar Year | Overtime Limit |
|---|---|
| 2024 | $20,459 |
| 2023 | $19,729 |
| 2022 | $18,233 |
| 2021 | $17,301 |
| 2020 | $17,067 |
| 2019 | $16,779 |
| 2018 | $16,406 |
| Fiscal Year | Overtime Limit |
|---|---|
| 2017* | $12,036 |
| 2016 | $15,608 |
| 2015 | $15,490 |
| 2014 | $15,261 |
| 2013 | $15,000 |
| *Prorated overtime cap for April 1, 2017 through December 31, 2017. | |
Police and Fire Retirement System Members1
Overtime pay above 15 percent of your annual earnings is not pensionable and cannot be used in your pension calculation. Your limit is calculated based on your pensionable, non-overtime earnings from the previous calendar year. It includes regular earnings, shift differential pay, location pay, longevity payments and top of pay grade bonus.
Earnings Limit
Pensionable earnings (the earnings that can be included in the calculation of a NYSLRS pension) for ERS and PFRS Tier 6 members are also limited to the Governor’s salary. The maximum earnings that can be applied toward your pension calculation are shown in the chart below.
| Earnings Period | Earnings Limit |
|---|---|
| Beginning April 1, 2021 | $250,000 |
| April 1, 2020 through March 31, 2021 | $231,250 |
| April 1, 2019 through March 31, 2020 | $206,250 |
| April 1, 2018 through March 31, 2019 | $184,250 |
| April 1, 2012 through March 31, 2018 | $179,000 |
Calculating the Limit
The earnings limit is applied on a State fiscal year (April 1 – March 31) basis, so when the Governor's salary increases at the beginning of a calendar year, the earnings limit amount is prorated. For reference, the Governor’s salary is provided in the chart below.
| Earnings Period | The Governor’s Salary |
|---|---|
| Beginning January 1, 2021 | $250,000 |
| January 1, 2020 through December 31, 2020 | $225,000 |
| January 1, 2019 through December 31, 2019 | $200,000 |
| April 1, 2012 through December 31, 2018 | $179,000 |
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