Post Retirement Earnings Limitations

Per Section 68 of Chapter 227 of the Acts of 2020, Section 91 limitations on earnings and hours worked for superannuation public retirees working in the public sector will again be in effect as of June 15, 2021. 

Starting June 15, public retirees working in the public sector will need to track their hours worked, to ensure they do not exceed 960 for Calendar Year 2021. Earnings per calendar year cannot exceed the difference between the retirement allowance and the current pay rate for the position from which the employee was retired or terminated prior to his/her retirement.  If a retiree has been retired for a full calendar year, the retiree may earn an additional $15,000 in each calendar year following that full calendar year.

Adherence to the post-retirement restrictions in any calendar year are the statutory responsibility of the employee and the employer.  Since these restrictions are being reinstated basically mid-way through the calendar year, PERAC does not anticipate many issues with retirees staying beneath the limits for 2021.