If you work for a public employer after retirement, there is a limit to how much you can earn during the calendar year. That amount increased to $35,000 for 2020, up from $30,000 last year, due to legislation signed in December.

If you are younger than 65 and earn more than the limit, you must pay back, to the Teachers' Retirement System, an amount equal to the retirement benefit you received after you reached the limit. Also, if you continue to work, your retirement benefit will be suspended for the remainder of the calendar year.