La. Admin. Code tit. 58 § XXV-605

Current through Register Vol. 50, No. 11, November 20, 2024

Section XXV-605 - Earnings Limit for Part-Time Reemployed Retirees

A. A member returning to work as a part-time employee may request a written earnings limit statement from MERS.

B. Monthly earnings of part-time reemployed retirees must be reported to MERS by the participating MERS employer by which they are employed.

C. It is the responsibility of the reemployed retiree to stay within the statutory earnings limit.

D. The member's monthly retirement benefit may be offset to recoup overearnings as a reemployed retiree.

E. If overearnings by a rehired retiree cannot be recouped through benefit payments, a payment plan subject to board approval shall be established with a promissory note required from the retiree.

La. Admin. Code tit. 58, § XXV-605

Promulgated by the Department of Treasury, Municipal Employees' Retirement System, LR 482369 (9/1/2022).

AUTHORITY NOTE: Promulgated in accordance with R.S. 11:1823.