Exceeding Post-Retirement Work Limits
You Forfeit Your Benefits When You Exceed the Limit
If you are working part-time or as a temporary-substitute for a PEERS-covered employer after retirement and you exceed the 550-hour limit, your benefits stop.
If you exceed the hourly limit:
- You must notify PEERS immediately.
- You forfeit your benefits effective the month in which the hourly limit is exceeded.
- Your benefits resume the month after your employment ends or when a new school year begins on July 1.
- If you meet membership eligibility requirements, you must establish a second PEERS membership and pay contributions to PEERS.
Mark is retired and working part-time for a PEERS-covered employer. Mark exceeds the hourly limit in April. He ends his post-retirement employment with the PEERS-covered employer in May. His April and May benefits are not payable. However, if he does not return to PEERS-covered employment, his benefits resume in June.