Earnings Limit Suspended Effective September 27, 2021
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. If a retiree exceeds the earnings limit and continues to work, their pension benefits are suspended for the remainder of the year.
The retiree earnings limit had been temporarily suspended by the Governor by executive order because of the COVID-19 emergency. That earnings limit suspension was in place from January 1, 2021 through June 24, 2021. A new executive order has again suspended the limit from September 27 through October 27, 2021.
- Pay from a public employer earned January 1, 2021 through June 24, 2021 will not count toward a retiree’s annual earnings limit.
- Pay from a public employer earned September 27, 2021 through October 27, 2021 will not count toward a retiree’s annual earning limit.
For more information about post-retirement employment, please read What If I Work After Retirement.