Disability Retirement Benefits - PSERs

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Your yearly earnings plus your yearly disability benefi t cannot exceed your annual earnings limitation, which is generally based on your last school year salary. For example - Your last school year salary was $40,000. This makes your earnings limitation also $40,000. If your annual PSERS disability retirement benefi t is $25,000, you cannot earn more than $15,000 of additional earned income per year without having to return money to PSERS. If your yearly income exceeds your earnings limitation, you will need to return the difference to PSERS. You may choose to return the excess earnings in one of two ways: A lump-sum payment within 30 days Your monthly benefi t is reduced by the amount of the disability supplement until the overpayment is recovered. When completing the Annual Earnings Statement, you should only report earned income. Earned income is compensation received by you for work as an employee of any business or by being self-employed. The following are not earned income and should not be reported: 11
<strong>Disability</strong> payments <strong>Retirement</strong> benefi ts Social Security benefi ts Workers’ compensation Investment income Dividends Child support Spousal support Additionally, you should not report wages received from your school employer earned before the effective date of your disability retirement. The Annual Earnings Statement should be completed and returned to PSERS as soon as possible, but no later than the date specifi ed on the statement. If this form is not completed and returned to us by the requested date, your monthly disability retirement benefi t will be suspended. Continued failure to return the form will result in the forfeiture of all rights to the disability retirement benefi t in excess of any early or normal retirement annuity to which you were entitled. You will need to complete an Annual Earnings Statement yearly until you reach superannuation age. For superannuation requirements, refer to the PSERS publication, Your Benefi ts and Leaving Employment (PSRS-9580) found on the PSERS website. 12
Page 1 and 2: Public School Employees’ Retireme
Page 3 and 4: Table of Contents What is a Disabil
Page 5 and 6: enefi ts paid to you by PSERS. It i
Page 7 and 8: supplement is not included in the b
Page 9 and 10: Physician’s Medical Report(s) (PS
Page 11 and 12: If you do not receive a favorable r
Page 13: permitted to return to work for a P
Page 17 and 18: health plan includes any COBRA cont
Page 19 and 20: For additional information on taxes
Page 21 and 22: which are unique to your employer o
Page 23 and 24: Normal/Early Class T-C/T-D Normal/E

Disability Retirement Benefits - PSERs

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