What Happens if You Exceed the Working After Retirement Limit?

If you exceed the hourly limit:

• You must notify PEERS immediately.
• Your benefit may be put on hold effective the month in which the limit is exceeded.
• You must repay to PEERS the amount earned in excess of the limit, or the entire amount of your monthly benefit for any month during which the limit was exceeded, whichever is less.
• If your benefits are put on hold, they will 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.
  

Establishing a Subsequent Membership

If your post-retirement work meets membership eligibility requirements, you must establish a new membership and pay contributions on your salary. You will earn service under your new membership.

If you earn a minimum of one year of service under that new membership, you are eligible for a second retirement benefit. You also have the option to request a refund of your contributions and interest earned under the new membership. When you do this, you forfeit any rights to a second monthly benefit.

You cannot:

• Combine your second benefit with your initial benefit
• Choose a Partial Lump-Sum Option (PLSO) on your second membership