Pro-Rated Working After Retirement Limits the Year You Retire
If you retire in a month other than July, the 550-hour and 50% salary limits are applied on a pro-rated basis for the rest of that school year.
- Pro-rated limits apply only during the school year you retire.
- When the new school year begins July 1, the limits are increased to the full, 550-hour and 50% salary limits and remain at those levels for future school years.
- Limits are per school year at all covered employers.
If Jane retires January 1, she can begin working February 1, but is limited to 275 hours and 25% of salary through June 30, the end of the school year. When the new school year begins July 1, the limits are increased to the full 550 hours and 50% of salary.
|Retirement Date||Maximum Hours You Can Work For the School Year||Maximum Percent of Full-Time Salary You Can Earn for the School Year|
You might also be interested in ...
- Working after retirement part-time or as a temporary-substitute for PSRS-covered employers
- Full (not pro-rated) limits on work after retirement
- Working after retirement record-keeping
- Getting a PSRS Member Work Record form
- The PSRS Working After Retirement brochure