As you know, there are federal and state limits on the amount of pensionable earnings (“regular compensation”) that can be used in computing benefits for active members of public retirement systems with effective membership dates after 12/31/1995. What this means for employers For any members with effective membership dates listed below, DO NOT take MTRS deductions…

Read more Note the 2021 pensionable earnings limits for employees with membership dates after 12/31/1995

Legislation extends waiver of earnings and hours restrictions for most retired public employees through 2021. In April, Chapter 53 of the Acts of 2020 waived earnings and hours restrictions for many retired public employees working in the public sector for calendar year 2020, during the Governor’s State of Emergency, which began on March 10, 2020. On December…

Read more Waiver of post-retirement employment restrictions extended