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Collecting pensions, the New York state government way

Here are some key points from a state manual detailing post-retirement work for people collecting pensions from the New York State retirement system:

Your post-retirement  earnings are unlimited, if you:

-Are self-employed

-Work for a private employer

-Work for another state

-Work for the federal government

-Are elected to public office

-Are 65 years or older

Otherwise, if you work for New York State or one of its political subdivisions, including school districts, earnings are limited to $30,000. After that, a pension is suspended for the remainder of the year. It will be restored the following year, but again, will be suspended with the $30,000 limit.

One way around the limit is to get a waiver. A prospective employer must submit proof to the appropriate state agency that you are the only person available and qualified for the job.

Also, as of Oct. 7, 2008, retirees cannot return to work in the same or a similar position for a one-year period following retirement.

What do you think? Are the laws good? Should  they be changed? Should anyone, no one or everyone be allowed to collect a state pension and a public sector paycheck?

— Sue Schulman

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