Information was just provided to us from the Teamsters. The Teamsters state that Gary Dellaverson refers to the new pension retirement provisions (retirement at age 62 with the 20% overtime salary cap) as a Tier V Pension . For all new employees hired at Metro-North Railroad that fall under this plan, there is no ten-year cap on the 3% employee salary contribution . The Tier V Pension has no provision for a 10-year cap on the employee contribution. These new employees will pay 3% of their salaries into this retirement plan throughout their entire railroad careers.