The Importance of Accurate Record-Keeping
Employers are responsible for keeping records of work performed by PSRS/PEERS retirees.
- You can download Working After Retirement Record forms in OASIS which can be used to record hours (and for PSRS retirees, salary) 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, salary) limits for each individual are shown at the top of the form.
- Because hourly and salary 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.
- 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.
You can use the generic record-keeping forms available in OASIS and fill in the individual employee's information, or you can track the required information in a spreadsheet or other format convenient for you.
You must track hours, and for PSRS retirees, all salary including health insurance you may pay on behalf of the retiree.
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, the retiree is required to end 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, salary) 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.