On December 6, 2019, Governor Cuomo signed into law a $5,000 increase to the annual earning limitation for pre-age 65 public sector retirees who continue to work in public sector employment after retirement in New York State. Beginning with calendar year 2020, the annual earnings limitation specified in Section 212 of the New York State Retirement and Social Security Law will be $35,000. This will permit a retiree to earn up to $35,000 per calendar year in public employment without such employment having any effect upon the amount of the retiree’s pension. The last time the Section 212 limit was increased was in 2007. Retirees may earn more than $35,000 only if a waiver is obtained from the applicable New York State Retirement System, or if the retiree has reached age 65.
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Labor & Employment Law Alert: Earning Limitation for Public Sector Retirees Increased Beginning in 2020
This communication is for informational purposes and is not intended as legal advice.