12/12/2019
Beginning Jan. 1, 2020, the amount a retired NYSTRS member under age 65 may earn in New York State public employment during a calendar year will increase to $35,000, thanks to new legislation signed by Gov. Andrew Cuomo.
The current limit of $30,000 is applicable to calendar year 2019 earnings.
The new legislation, Chapter 589 of the Laws of 2019, amends Section 212 of the Retirement and Social Security Law. The state Senate and Assembly passed the bill to amend Section 212 earlier this year.
You can find more information about post-retirement earnings, including the rules governing work as a consultant and the conditions in which you can have unlimited earnings, in the pamphlet Working in Retirement and in the Retired Members' Handbook.
As a reminder, System retirees younger than 65 are required to report to NYSTRS any earnings received from a state public employer. Those with a MyNYSTRS account are urged to report non-pension earnings to us on a monthly basis through this secure, online portal.
Those without a MyNYSTRS account should report earnings using the form Reporting Your New York State Public Employment Earnings (RMS-64.1). The form should be submitted to NYSTRS as soon as the legislated calendar year limit is reached.
Timely self-reporting can help you track your earnings and avoid having to repay a portion of your retirement benefit if you exceed the limit. If you are subject to an earnings limit and exceed the limit, NYSTRS will suspend your pension for the remainder of the calendar year if you continue working in NYS public employment.