New Jersey Administrative Code
Title 17 - TREASURY - GENERAL
Chapter 2 - PUBLIC EMPLOYEES' RETIREMENT SYSTEM
Subchapter 6 - RETIREMENT
Section 17:2-6.14 - Disability retirant; annual report (employment, earnings, test and adjustment)
Current through Register Vol. 56, No. 6, March 18, 2024
(a) Pursuant to 43:15A-44, if a disability retirant is engaged in gainful employment that does not require reenrollment in the PERS, then the amount of the retirant's pension benefit and cost-of-living increases based on the pension benefit, but not the annuity benefit, shall be reduced to an amount, which when added to the amount then earned, shall not exceed the amount of salary now attributable to the position from which the member retired.
(b) Earnings from employment in New Jersey shall be obtained through the New Jersey Department of Labor and Workforce Development. For all other earnings, the disability retirants shall be required to file a report with the System, which may include copies of the retirant's IRS 1040 forms and W-2 forms and any other proofs of employment requested of a specific retirant indicating the type of employment they are engaged in, if any, and the gross earned income realized therefrom as of December 31 of the prior year. The Division may also require the retirant to complete Federal Form 4506-T, Request for Transcript of Tax Return. In cases where a disability retirant does not provide the forms required for reporting earnings, as specified above, the retirant's disability retirement benefits will be suspended.
(c) If the Department of Labor and Workforce Development or a retirant reports employment and earnings, then the following tests shall be made by the Division:
(d) Retirants who retired on or before October 1, 1992, and who are age 60 or older, shall be exempt from the above earnings test beginning with the calendar year in which they attain the age of 60. Retirants who retired on or after November 1, 1992 are subject to the earnings test for their lifetime.