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 legislation have temporarily suspended the earnings limit for retirees who returned to work.
Earnings Limit Suspended through June 30, 2024 for School Districts and BOCES
Recent legislation has again suspended 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, 2024.
This extension does not apply to universities, colleges or charter schools.
Earnings Limit Suspended through June 8, 2023 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 the annual calendar-year earnings limit during the following time periods:
- January 1, 2023 through June 8, 2023.
- January 1, 2022 through December 31, 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 June 8, 2023 we will update this blog post. For general information about post-retirement employment, please read What If I Work After Retirement.