New York A08352 sets the increase to the overtime ceiling as a fixed percentage.

New York A08352 amends the retirement and social security law to change how the overtime ceiling is increased. The overtime ceiling, initially set at $15,000, will be increased by three percent each year. For members who join the New York State and Local Employees' Retirement System after April 1, 2012, the ceiling will be increased by a percentage determined by the consumer price index. Starting January 1, 2026, the increase will be the greater of three percent or the annual inflation rate.

New York A08352 sets the increase to the overtime ceiling as a fixed percentage.

New York A08352 amends the retirement and social security law to change how the overtime ceiling is increased. The overtime ceiling, initially set at $15,000, will be increased by three percent each year. For members who join the New York State and Local Employees' Retirement System after April 1, 2012, the ceiling will be increased by a percentage determined by the consumer price index. Starting January 1, 2026, the increase will be the greater of three percent or the annual inflation rate.