Working Full-Time for PEERS-Covered Employers
Working full-time after retirement for a PEERS-covered employer will result in the forfeiture of your retirement benefits.
If you choose to work full-time for a PEERS-covered employer in any capacity:
- You must notify PEERS immediately.
- You forfeit your benefits effective the month you begin full-time work.
- You are required to establish a second PEERS membership.
- PEERS contributions are withheld from your salary.
- You earn service under a new membership.
See the exception to these rules under the Critical Shortage Full-Time Employment Exception.
When your full-time employment for a PEERS-covered employer ends, your benefits resume the month after your full-time employment ends, or when a new school year begins (July 1).
You cannot receive benefits for any month in which you receive service for PEERS-covered employment. If you receive a full year of service in a school year, it is necessary for PEERS to recover any benefits paid to you during the entire school year.
Mark is retired. If Mark begins working full-time in August, his benefits stop beginning with the August benefit payment. If he receives a full year of service for the school year (July 1 - June 30), PEERS must recover his July benefit payment that was paid prior to the start date of his full-time employment because it was paid to him during a school year when he earned a full year of service.