Pension - Defined Benefit Plan

System

Are there others who allow their employees to retire whether early or at retirement age, receive their monthly pension check and continue to work at their job?

Betty I_O

We allow retired employees to continue to work, but only on a per diem basis and for no more than 20 hours per week. If the employee's rate of pay at the time they left regular employment exceeded the maximum for the established salary range for the job classification, they will be rehired at the maximum rate for the job classification.

Down_the_Middle

If you have an ERISA plan, you'll be required to recalculate the retirees benefit if they are permitted to work more 1,000 hours per year. Your plan document should govern how this s/b handled. If you do not have an ERISA plan (some employers refer to their plan as a DB when it's really not) , then you can probably proceed based on past practice and focus on consistency in the future.

System

>If you have an ERISA plan, you'll be required to recalculate the
>retirees benefit if they are permitted to work more 1,000 hours per
>year. Your plan document should govern how this s/b handled. If you
>do not have an ERISA plan (some employers refer to their plan as a DB
>when it's really not) , then you can probably proceed based on past
>practice and focus on consistency in the future.

That we do but can they collect their monthly pension without a termination of employment?