Good afternoon, we will be having a dinner on March 11, 2016 at Pappdeux Seafood Kitchen to talk about the new TRS update.
From September 1, 2015 through August 31, 2016 the plan is 53,000 or 100% of compensation. TRS individuals might be able to use rollovers or installment payments purchases to keep annual contributions within the their limits. Section 415(b) limit for 2015-2016 is $210,000 for individuals who want to retire before age 62. To enroll for the 2016-2017 TRS active care you have to enroll during the enrollment period because if you don't you wont have your coverage.
Early retirement plan:
- If you retired early, then annuity is reduced because you can not meet the criteria for normal aged retirement plan. In order to negotiate TRS employment you must wait to talk to a TRS-covered employer.
- You can negotiate with a TRS-covered employer AFTER a full calendar month break following the date of your retirement.
- If you plan to return to work during the full calendar month after you retire, you MUST return ALL annuity payments including an PLSO and any health benefit payments paid on your behalf by TRS-care because you have not terminated all employment with a TRS-covered employer and you were not eligible to retire.
- After the one month calendar break you are allowed to work as a SUBSTITUTE without any limit of the number of days. You can also work ONE-HALF TIME every month. There is a way to work FULL TIME and still have annuity but ONLY after a 12 consecutive month break in service after the date of your retirement.
- If you are a normal age retiree you must wait one full month before returning to employment with an employer covered by TRS.
- One-half time employment will begin after one month of absence. You cannot negotiate for a full time employment before you retire or before your one month calendar break.
- If you return to work for a TRS-covered employer in ANY type of capacity, including being a substitute during your break your retirement will be revoked.
- During your break you can do voluntary work without securing employment with TRS in the future.
- After you retire you may work but you have to wait 12 calendar months before working full time.
- TRS employers do get paid leave days. They will get paid like if they were working. It doesn't matter what type of paid leave they are taking.
- If you retired due to disability you still have to wait a full calendar month AND wait the full calendar to negotiate with an employer to go back to work.
- If you work as a substitute during the month break your retirement will be revoked.
- After waiting the full month and negotiating they may go back to work.
- You may work as a SUBSTITUTE for only 90 days each school year.
- ONE-HALF TIME EMPLOYMENT is working or using paid leave for no more than the equivalent of four clock hours every workday.
- You can COMBINE being a SUBSTITUTE working under ONE-HALF TIME