The Importance of Accurate Record-Keeping
PSRS/PEERS will send you Working After Retirement Record forms which can be used to record hours (and for PSRS retirees, earnings) for each part-time or temporary-substitute retiree you have reported to us as working at your district. The specific hourly (and for PSRS retirees, earnings) limits for each individual are shown at the top of the form. Because hourly and earnings limits may be pro-rated for those retirees who are in their first year of post-retirement work, not all retirees have the same limits. The retirees are required to maintain similar records.
If needed, you can use the generic versions (PSRS form or PEERS form) and fill in the individual employee’s information, or you can track and record the required information in a spreadsheet or other format that is convenient for you. You must track hours, and for PSRS retirees, all earnings including health insurance you may pay on behalf of the retiree.
PSRS/PEERS may request access to these records at any time, but you should not send them to us unless requested. If there are discrepancies between your records and those of your employee, we consider the employer’s record official.
If we request to review your records and they show that a retiree has exceeded the limits, that person’s retirement benefits will be put on hold, and he or she may be required to repay benefits received while ineligible. In order for those benefits to resume, they are required to end their post-retirement employment.
Therefore, in addition to the requirement to keep an accurate record for each working PSRS/PEERS retiree at your district, we strongly suggest that you:
- Consult with your retired employees when they begin post-retirement employment to discuss how hours (and for PSRS retirees, earnings) will be tracked, and
- Check with each employee regularly to ensure that your records are accurate and consistent.
Note: If a working retiree is employed by more than one PSRS/PEERS-covered employer, it is the retiree's responsibility to keep records for all such employers. The total hours and earnings at all covered employers count in total against the working after retirement limits. As an employer, you can track only hours and earnings with your district.