Once you decide to retire, you may still want to work — perhaps to supplement your retirement income or to pursue a second career. If you are a UFT retiree who plans to reenter the workforce on a full- or part-time basis, you must follow some important rules or you will jeopardize your pension and Social Security benefits.

Pension

If your post-retirement employer is the city Department of Education or another public employer in New York State, there are restrictions on your earnings as a retiree until you reach age 65.

If you are a service retiree under age 65, you may return to public employment with New York City or State and earn up to a designated limit each calendar year without jeopardizing your retirement allowance. (The earning limit in 2020 is $35,000.)

An F status employee is a per diem employee engaged for a full term but working fewer than five full days each week at a prorated salary. If you are a retiree working for the Department of Education as an F-status employee, your vacation pay will be counted as part of the $35,000 in allowable earnings.

You must file the DOE's Form 212 statement with the retirement system, either TRS or BERS, to report your post-retirement earnings for the previous year.

If you earn more than $35,000 during a calendar year while working as a public employee in New York State, your retirement allowance would be suspended, usually for the rest of the calendar year.

You do not earn additional pension credit for post-retirement work for the DOE.

UFT members receiving pension benefits from their retirement system can earn unlimited income without affecting their pensions if they are self-employed, work for a private employer, work for another state or work for the federal government.

Social Security

Those who elect to start collecting Social Security benefits before they reach full retirement age, which varies depending on your year of birth, may incur a reduction in their Social Security benefit depending on how much they earn.

Retirees from age 62 to full retirement age may earn up to $18,240 in 2020 without affecting their Social Security benefits. If you earn more, you will lose $1 in Social Security benefits for every $2 you earn.

You can earn as much as you want without affecting your Social Security benefit beginning in the month you reach full retirement age.

The maximum earning figure changes periodically, and it is up to you to keep informed of any changes. Check with the Social Security Office by calling 800-772-1213.

The chart below is based on a service retirement only. Income limits for members on a disability retirement must be less than $1,800 annually.

Income limits after retirement

All income is based on calendar year 2020.