If you are nearing retirement, have you thought about continuing to work after you retire? If the answer is yes, there are several key factors to consider if you plan to return to work, primarily whether you will work directly with an ASRS employer and our 20/20 Membership Criteria.
Working after retiring from the ASRS allows our members to receive their monthly pension while also receiving a paycheck from their new employer. Please also note that you cannot actively contribute to the ASRS and receive your ASRS pension.
Working For a Non-ASRS Employer
Is your plan to return to work with a non-ASRS employer? ASRS statutes and rules regarding returning to work after retirement pertain only to returning to work directly with an ASRS employer. If you will be working for a non-ASRS employer or you become employed through a 3rd party with an ASRS employer, you will not need to notify the ASRS of your return to work status and may work as many hours as you would like. As a result, your pension will not be affected.
Working for an ASRS Employer
If you are planning on returning to work for an ASRS employer while also receiving an ASRS pension, please ensure you are following the appropriate processes and procedures that the ASRS is bound by through State Statutes.
Normal Retirement
When you retire from the ASRS and end your employment, you have an official “Termination Date” through the ASRS. As long as you have retired under Normal Retirement, you must wait 365 days from your Termination Date before meeting the 20/20 Membership Criteria. During the 365-day waiting period, you may still return to work with an ASRS employer, but you must remain under the 20/20 Membership Criteria:
- Work less than 20 hours per week; or
- Work 20 or more hours per week for not more than 19 weeks in our Fiscal Year, which runs from July 1 to June 30 of the following calendar year. The remaining 33 weeks in the Fiscal Year must be below 20 hours per week to continue receiving your pension and not contribute to the ASRS.
Early Retirement
Should you decide to take Early Retirement with the ASRS and want to return to work with an ASRS employer, you must remain under the 20/20 Membership Criteria until the following happens:
- You reach Normal Retirement (you will naturally age into Normal Retirement), AND
- It has been 365 days since your Termination Date
Once you have reached both requirements, you can return to work with an ASRS employer without restrictions. Please be advised that should you be working under the 20/20 Membership Criteria and then reach the two requirements, if you choose to increase your hours, a new Working After Retirement Form must be completed.
Not Terminating Employment?
Members have the option to retire with the ASRS, receive their pension, and still keep their current job title with their employer without terminating, but they are required to reduce their hours. Please be aware that should you choose not to terminate employment and retire directly with the ASRS, you will be required to remain under the 20/20 Membership Criteria throughout the duration of your employment. This means that you can work 19 weeks at 20 or more hours, but for the remaining 33 weeks in our Fiscal Year, you must work no more than 19 hours per week. If you end up working over the 20/20 Membership Criteria, your pension will be suspended, and you will be required to contribute to the ASRS once more.
We understand that our members will have different scenarios when considering returning to work after retiring from the ASRS, and by visiting our Return to Work page, you will be provided with a breakdown of the Statutes that the ASRS must follow and further information on returning to work after retirement. By gaining access to your myASRS secure account, you may access our Working After Retirement tool, where you can review your own specific options for returning to work.
If you would like to learn more about Early Retirement versus Normal Retirement, please visit our Retirement Eligibility page.
