No it is governed by State statute. From the PFRS Guide:
"Tier 1 – Pensionable Salary Limits
The PFRS contribution rate for Tier 1 members is applied
to the full pensionable salary, up to the federal
pensionable maximum. The PFRS is a qualified pension
plan under the provisions of the Internal Revenue
Code (IRC), Section 401(a)(17); therefore, the current
federal ceiling on pensionable salary applies to the base
salaries of Tier 1 PFRS members. Salary earned by a
member in excess of this amount is not pensionable;
that is, it may not be used in determining member contributions
and benefits. For more information about this
topic, please see the Internal Revenue Service (IRS)
website:
www.irs.gov"
"Extra Compensation
Extra compensation is not included in base salary. Extra
compensation means individual salary adjustments
granted primarily in anticipation of retirement or as additional
compensation for performing temporary duties beyond
the regular workday. In accordance with N.J.A.C.
17:4-4.1, “…the compensation of a member subject to
pension contributions and creditable for retirement and
death benefits in the System shall be limited to base
salary, and shall not include extra compensation.” Some
of the items identified as extra compensation are as follows:
• Overtime;
• Pay for extra work, duty, or service beyond the normal
work day or normal duty assignments;"