• <ALIGN="LEFT"></ALIGN="LEFT">Retired Employees Returning to Work Earning Limitations

     
     
    Anderson School District One Policy
    At Will employees will earn leave days the same as regular employees each school year but will not be able to carry over any unused leave into another school year.

    SCRS Service Retiree

    If you return to work after retirement, there may be a earnings limitation on the dollar amount that you may earn as compensation unless you retired prior to 7/1/2012. You must be retired for at least 30 consecutive calendar days before returning to work for an employer covered by the Retirement Systems. Contributions to SCRS will be withheld from your check at the same rate as active members.

     If you return to covered employment sooner than 30 consecutive calendar days after retirement, your retirement annuity will be suspended while you remain employed by a covered employer. Another severance from employment and 30 day consecutimve calendar day break would be required in order for the retirement annuity to continue.

    SCRS Disability Retiree
    Disability retirees should report earnings from any gainful employment to the Retirement Systems annually. There is an earnings limitation for all public and private employment which is applied on a calendar-year basis. You may earn the difference between your adjusted average final compensation (AFC) at retirement and your disability retirement annuity without affecting your retirement benefits. Your AFC is the total of your highest 12 consecutive quarters of earnable compensation (Jan.-Mar., Apr.-Jun., Jul.-Sep., Oct.-Dec.) divided by three.

    Example


    AFC at retirement (adjusted for inflation)

    Annual disability retirement annuity

    Disability retiree can earn difference
    (for the calendar year)

    $35,000

    - $14,950

    $20,050

    Your AFC may be adjusted each year for inflation for earnings limitation purposes only. This increase generally matches the percentage increase of the CPI, but can be up to a maximum of 10 percent. These adjustments affect the amount you can earn while receiving a disability retirement annuity; however, they do not affect the amount of your benefit.

    If you earn more than your adjusted AFC, your monthly annuity will be reduced or possibly canceled. If you return to work with an employer covered by the Retirement Systems and your salary is equal to or greater than your adjusted AFC, your disability retirement annuity ceases and you must become an active member of the system.

    At age 65 (SCRS) or age 55 (PORS), there is no longer an earnings limitation.