New York S07670 sets the increase to the overtime ceiling as a fixed percentage.

New York S07670 amends the retirement and social security law to change the overtime ceiling percentage increase for Tier 6 members in the New York State and Local Employees' Retirement System (NYSLERS). The bill sets the overtime ceiling at $15,000 for members who joined after April 1, 2012, and increases it annually by the greater of three percent or the annual inflation rate. The bill also specifies that the increase will take effect immediately and does not require appropriation.

New York S07670 sets the increase to the overtime ceiling as a fixed percentage.

New York S07670 amends the retirement and social security law to change the overtime ceiling percentage increase for Tier 6 members in the New York State and Local Employees' Retirement System (NYSLERS). The bill sets the overtime ceiling at $15,000 for members who joined after April 1, 2012, and increases it annually by the greater of three percent or the annual inflation rate. The bill also specifies that the increase will take effect immediately and does not require appropriation.