Tag Archives: Executive order

Update Regarding Retiree Earnings Limit

Normally, most NYSLRS retirees who return to work for a public employer face an earnings limit. Under Section 212 of the Retirement and Social Security Law, most NYSLRS retirees under age 65 who return to work for a public employer can earn up to $35,000 per calendar year without penalty. The limit includes all earnings for the calendar year, including money or retroactive payments earned in the calendar year but paid in a different calendar year. If a retiree exceeds the earnings limit and continues to work, their pension benefits are suspended for the remainder of the year.

However, executive orders and new legislation have temporarily suspended the earnings limit for retirees who returned to work.

retiree earnings limit

Earnings Limit Suspended through June 30, 2023 for School Districts and BOCES

The state budget for fiscal year 2022-2023 included legislation that temporarily suspends the earnings limit for retirees employed by school districts and Boards of Cooperative Educational Services (BOCES). Under this legislation, post-retirement earnings with a school district or BOCES will not count toward a retiree’s annual earnings limit through June 30, 2023.

The new law means that for retirees working for school districts or BOCES, the limit is eliminated through the end of the school year 2022-23. This extension does not apply to universities, colleges or charter schools.

Earnings Limit Suspended through October 27, 2022 for Other Public Employers

The Governor has issued an executive order temporarily suspending the retiree earnings limit. Under the executive order, post-retirement earnings with a public employer will not count toward a retiree’s annual earnings limit during the following time periods:

  • January 1, 2022 through October 27, 2022.
  • January 1, 2021 through June 24, 2021, and September 27, 2021 through December 31, 2021.
  • March 27, 2020 through December 31, 2020.

If the order is extended beyond October 27, 2022 we will update this blog post. For general information about post-retirement employment, please read What If I Work After Retirement.

15-Day Notice for Retirement Waived During COVID-19 Emergency

The 15-day waiting period for a NYSLRS member’s retirement to take effect has been temporarily waived by a governor’s executive order. The waiver, which was requested by Comptroller DiNapoli, is designed to protect families who may lose a loved one to COVID-19 before a member’s retirement is official.

Under the waiver, if you plan on filing for retirement through July 5, 2021, you can choose a date of retirement less than 15 days away.

15-day notice waived

Members seeking to service retire should also choose a pension payment option. This is especially important if you wish to name a beneficiary to receive a pension benefit in the event of your death.

Eligible members can file for retirement, choose a date of retirement as early as the next day, and upload retirement-related documents using Retirement Online.

If you choose to file a paper retirement application, you can choose a specific retirement date, or enter “ASAP” and your date of retirement will be the day after your filing date. Find more information about filing for retirement (online or by mail) in our recent blog post, Retirement Online Makes Applying for Retirement Fast, Easy.

A member may withdraw their service retirement application up until the day before they retire.

The waiver will also be effective for members who filed after March 7, 2020 and died due to COVID-19. If these members selected a pension payment option that provides a continuing pension benefit for a beneficiary after their death, and they died of COVID-19, their beneficiary will receive the monthly benefit under the pension payment option that the member chose.

“Many government workers are battling the coronavirus in their communities every day,” New York State Comptroller Thomas P. DiNapoli said. “God forbid something should happen to them before their retirement becomes effective. Waiving the waiting period after filing for service retirement benefits ensures their families will get the benefits that were intended for them. My thanks to Governor Cuomo for acting on our request and taking steps to protect our heroic state and local workers and their families in these tough times.”

The executive order waives the legal requirement that a NYSLRS member’s retirement application be received by the Office of the State Comptroller at least 15 days before their retirement date.

To be eligible for a service retirement benefit, a vested NYSLRS member must be at least 55 years old, unless they are in a special plan that allows retirement after 20 or 25 years regardless of age. For details about NYSLRS service retirement benefits and death benefits, please check your retirement plan booklet, which you can find on our Publications page.

Members who are not yet eligible for a service retirement benefit may want to read our recent blog about applying for a disability retirement benefit.