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A member may re-employ after retirement; however, the member must ensure that applicable separation from service requirements are met by waiting a minimum of 30 days to re-employ.
Beginning July 1, 2008, retirees may re-employ in a TRF- or PERF-covered position after a 30-day separation period.
Effective July 1, 2008, a member may continue to receive pension payments and re-employ in a TRF- or PERF-covered position with a 30-day required separation from service period before re-employment and no earnings limitation during re-employment. During re-employment in a TRF- covered position, no ASA contributions are made to TRF on the member’s behalf and no additional service credit or supplemental pension is earned.
The 30-day separation of service period is measured from a TRF member's benefit accrual date (last day in the classroom) to the first date of re-employment. TRF members are paid back to their last day in the classroom. For example, if a TRF member stops teaching on May 18 and retires, his or her retirement date is June 1, but his or her benefit accrual date is May 19. He or she would be eligible to re-employ in a TRF or PERF-covered position on or after June 18.
For a member who chooses to delay his or her retirement, the benefit accrual date is the retirement date. If the member does not have a 30-day separation from service, the member’s retirement is voided and the member is not eligible for pension benefits. The member must repay to the Fund any amounts received for which the member was not eligible.
After July 31, 2009, if, on or before the date the member files an application for a retirement benefit, the member has entered into any re-employment agreement (formal or informal) with a covered employer, the member’s application for retirement is void and any benefits paid during the period of re-employment must be repaid to TRF. IRS penalties may also apply.
Errors may occur when determining benefits provided by TRF. This could be due to incorrect or incomplete data or for other reasons. If such an error is discovered, INPRS reserves the right to correct the error at any time, including after you take a distribution of your account balance. If you receive an overpayment as a result of any error, you will be notified of the amount and will be required to repay it to INPRS. If you have an underpayment, you will receive an additional payment from INPRS.
You may begin receiving retirement benefits while continuing to work in a TRF-covered position if you are age 70 and have at least 20 years of creditable service. A member who chooses to begin receiving monthly retirement benefits while working in a TRF-covered position cannot earn additional service credit toward retirement, but may continue to make contributions to their ASA. Members choosing this option may not withdraw their ASA balance until separated from service.