Many people like to keep busy when they stop working full time, and UFT retirees are no exception. But whether you take a part-time job to stay active, explore a new field of interest, pursue a dream or supplement your income, you need to follow specific rules to avoid jeopardizing your pension or Social Security benefits.

Pension

Public employee retirees in New York State, including UFT members with a service pension from the city Department of Education, can earn unlimited income if they are self-employed or work for a private employer, nonprofit organization, the federal government, or another state or its political subdivisions.

That is not the case if your post-retirement employer is the city DOE or another public employer in New York State. The Retirement and Social Security Law places restrictions on your earnings as a retiree until you reach age 65. The annual earnings limit is $35,000, which has not changed since 2020. But for the last several years, that limit has been waived for any retiree working in a public school. The state budget adopted in April extends the waiver to June 30, 2025.

Retirees who are working must file a certificate of employment Section 212 form with their pension system to report post-retirement earnings for the previous year. You must fill out the form annually until the calendar year in which you turn 65. Failure to file the paperwork could lead to a suspension of your pension payments.

You do not earn additional pension credit for your post-retirement work at the DOE.

If you receive an annuity under the Tax-Deferred Annuity Program, your monthly payments will not be affected by your post-retirement income.

For more information, read the TRS Earnings After Retirement brochure on the TRS website. Members of the Board of Education Retirement System may call 929-305-3800 or visit the BERS website. If you have any questions, call the UFT at 212-331-6311 and ask to speak to a UFT pension consultant.

Please note: Most of this information pertains specifically to service retirees, not to those who retire with disability pensions.

Social Security

A retiree from age 62 to full retirement age (which varies depending on your date of birth) who is drawing Social Security benefits may earn up to $22,320 in 2024 without affecting those benefits. If you earn more than this amount, you will lose $1 in Social Security benefits for every $2 you earn.

In the year you reach full retirement age, Social Security deducts $1 in benefits for every $3 you earn above a different limit. In 2024, this limit on your earnings is $59,520. Social Security only counts your earnings up to the month before you reach your full retirement age, not your earnings for the entire year.

You can earn as much as you want without affecting your Social Security benefit beginning in the month you reach full retirement age.

The maximum earning figure changes periodically, and it is up to you to keep informed of any changes. Check the Social Security Administration website or call the agency at 800-772-1213.