Plan amendment: re-employment
August 15, 2016
With the dog days of summer upon us, you may be thinking about heading back into the classroom to earn a bit of extra money. Or maybe, you just miss being in a school environment.
Here are three questions you need to ask yourself if you decide to go back to work, either on a paid or volunteer basis:
Does the work I’m doing count as re-employment?
It’s not just teaching that counts. Any service you provide to an employer who participates in the pension plan, for which you are entitled to get paid for, is considered re-employment. If you’re not sure, call our Member Hotline (1-800-668-0105)
How close am I to the limit?
You can work up to 50 days in a school year without affecting your pension. If you plan to work past the end of the month in which you hit the 50-day limit, let us know. We’ll suspend your pension the following month.
As a result of a recent plan amendment, all suspended pensions will automatically resume either on September 1st, or the month in which you have no re-employment service (whichever comes earlier).
How will I stay on top of my days?
It’s up to you to track your re-employment and inform us if you exceed the limit. Download Worklog to make this task a bit easier. The app will alert you when you’re close to the limit and remind you to stop working to avoid a pension suspension. You can download it in the App Store or on Google Play.