Current through Register Vol. 24-18, September 15, 2024
(1)
How soon can I return to work after
I retire without impacting my PSERS retirement benefit? You may begin
working immediately after you retire without impacting your PSERS retirement
benefit if:
(a) You go to work for a private
employer;
(b) You are an
independent contractor as defined in WAC
415-02-110;
(c) Your only employment is as an elected
official and you are not a PERS member; or
(d) You work in an ineligible
position.
(2) If you
return to work in a PERS, SERS, or TRS Plan 2 or Plan 3, or LEOFF Plan 2
eligible position, your retirement benefit will be affected as follows:
(a) If you retire and then return to work
sooner than 30 consecutive calendar days from your accrual date (effective
retirement date), your monthly retirement benefit will be reduced in accordance
with RCW
41.37.050(1) until you
remain absent for at least 30 consecutive calendar days.
(b) If you retire and remain absent at least
30 consecutive calendar days from your accrual date, you may work up to 867
hours each calendar year before your retirement benefit is
suspended.
(3) If you
return to work in an eligible PSERS position, your retirement
benefit will be affected as follows:
(a) If
you elect to reenter membership, your retirement benefit will be suspended.
When you reretire, your retirement benefit will be recalculated pursuant to WAC
415-106-710.
(b) If you return to an eligible PSERS
position within 30 consecutive days of your accrual date (effective retirement
date) and do not reenter membership, your monthly retirement benefit will be
reduced by five and one-half percent for every eight hours you work during that
month. This reduction will be applied each month until you remain absent for 30
consecutive calendar days. The reduction will accrue for a maximum of 160 hours
per month. Any reduction over 100 percent will be applied to the benefit you
are eligible to receive in subsequent months. See
RCW
41.37.050(1).
(c) If you return to an eligible PSERS
position after being absent for 30 consecutive calendar days from your accrual
date (effective retirement date) and do not reenter membership, your retirement
benefit will be suspended until you separate from PSERS
employment.
(4) If you
return to work after retirement from PSERS and another DRS retirement system,
see WAC 415-113-300 to determine the
effect of returning to work.
(5)
What is the annual limit?
(a) No
limit. You may work as many hours as you want without affecting your retirement
benefit if you work:
(i) In a position that
is not eligible for membership in a DRS or higher education retirement
plan;
(ii) As an independent
contractor;
(iii) For a private
employer.
(b)
Eight hundred sixty-seven-hour limit. You may work up to 867 hours
in a calendar year, in a position that is eligible for membership in a DRS or a
public institution of higher education retirement plan, before your retirement
allowance is suspended.
(c)
One thousand forty-hour limit. From April 14, 2023, through July
1, 2026, if you had a 30-day break from your accrual date, you may work up to
1,040 hours in a calendar year, at a state agency or higher education
institution in a nonadministrative position as a licensed
nurse.
(6)
What
hours are counted toward the limit?
(a)
Counted toward the annual hour limit: All compensated hours that
are worked in an eligible position covered by a DRS or higher education
retirement plan, including the use of earned sick leave, vacation days, paid
holidays, compensatory time, and cashouts of compensatory time.
(b)
Not counted toward the hour
limit: Cashouts of unused sick and vacation leave.
(7)
What happens if I work more than
the annual hour limit?
(a) If you work
more than the annual limit, your retirement benefit will be suspended. The
suspension will be effective the day after you exceed the hour limit. DRS will
prorate your retirement benefit for the month in which you exceed the hour
limit.
(b) Your retirement benefit
will be restarted beginning the next calendar year (January) or the day after
you terminate all eligible employment identified in subsection (2) of this
section, whichever occurs first.
(c) DRS will recover any overpayments made to
you for the month(s) in which you exceeded the work limit and received a
retirement benefit. See
RCW
41.50.130.
(8)
Terms used.
(a) Accrual date -
RCW
41.37.240.
(b) PSERS: Public safety employees'
retirement system.
(c) Eligible
position -
RCW
41.37.010; WAC
415-106-100.
(d) Ineligible position -
RCW
41.37.010.
(e) Membership -
RCW
41.37.020.
(f) Month - Calendar month as defined in WAC
415-02-030.
Statutory Authority:
RCW
41.50.050(5),
41.37.050,
41.50.130,
chapters
41.32,
41.35, and
41.40 RCW. 08-02-046, §415-106-700, filed 12/27/07,
effective 1/27/08.
