What Happens if You Exceed a Working After Retirement Limit?

If you exceed a working after retirement limit:

• You must notify PSRS immediately.
• Your benefits may be put on hold effective the month in which the limit is exceeded.
• 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 requirements, you must establish a subsequent PSRS membership and pay contributions.

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 retirement benefit.

You cannot:

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