The Importance of Accurate Record-Keeping

Employers are responsible for keeping records of work performed by PSRS/PEERS retirees.

  • Depending on the System from which the employee retired and whether or not his or her job as a retiree requires a DESE-issued certificate, you may need to track hours worked, salary earned, or both.
  • You can download Working After Retirement Record forms in OASIS or you can use a spreadsheet.
  • Because 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.
  • Retirees are required to maintain similar records.
  • 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 a limit(s), 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, the retiree is required to end post-retirement employment that counts toward the limit(s) that was exceeded.

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 work will be tracked
  • 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 salary at all covered employers count in total against the working after retirement limits. As an employer, you can track only hours and salary with your district.

 

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