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62-5 SPD:62/5 SPD.qxd - NYCERS

62-5 SPD:62/5 SPD.qxd - NYCERS

62-5 SPD:62/5 SPD.qxd - NYCERS

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NEW YORK CITY EMPLOYEES’ RETIREMENT SYSTEMThe Income Limitation is a fixed dollar amount established by adding (or subtracting) the ConsumerPrice Index (CPI) percentage increase (or decrease) to (or from) the Income Limitation forthe prior year. The Income Limitation for prior years has been:YEARINCOME LIMITATION1991 $17,1001992 $17,6001993 $18,0001994 $18,5001995 $19,0001996 $19,6001997 $19,9001998 $20,2001999 $20,8002000 $21,4002001 $21,7002002 $22,2002003 $22,6002004 $23,5002005 $24,3002006 $25,0002007 $26,0002008 $26,0002009 $26,7002010 $27,1002011 $27,900Once a disability retiree exceeds the Income Limitation in any given year, his or her pension willbe suspended for 12 months; the penalty is not dollar for dollar.LR: Chapter 414 of the Laws of 1983SR: RSSL §605 subdivision cIMPORTANT NOTE FOR NYC DEPUTY SHERIFFS AND EMERGENCY MEDICAL TECHNICIANS:NYC Deputy Sheriffs receiving an accidental disability retirement benefit are not subject to anylimitations on income earned from the private sector, but are limited to $1,800 in earningsderived from public employment in New York City, New York State or a locality within New YorkState, including pension earned. NYC Deputy Sheriffs must still file Form #351 with <strong>NYCERS</strong>on an annual basis.DISABILITY RETIREMENTEmergency Medical Technicians receiving a performance of duty disability benefit under Retirementand Social Security Law (RSSL) §607-b are not subject to any limitations on incomeearned from the private sector, but are limited to $1,800 in annual earnings derived frompublic employment in New York City, New York State or a locality within New York State, includingpension earned. Emergency Medical Technicians must still file Form #351 with NYC-ERS on an annual basis.LR: Chapter 461 of the Laws of 2009SR: RSSL §607-b subdivision a56

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