Broker Check

Retire-Rehire

YOUR RISK, OUR SOLUTION:

YOUR RISK, OUR SOLUTION:

Avoid losing money during the retire/ rehire process and Understand the rules to maximize your income in retirement.

You may have heard the phrase 'retire, rehire,' in reference to an Ohio public employee who retires and is rehired in the Ohio public pension system.

This employment opportunity can have several advantages, but it's important to understand how to correctly retire and be rehired so you don't lose any income.

Rules to Retire-Rehire

1. Wait two full calendar months

If you go back to work before two calendar months (not 60 days), you forfeit two original Single Life Annuity (SLA) checks. You will still receive your reemployment salary.

2. Healthcare may need to be covered from your new employer

Employed retirees are not eligible for medical care coverage through the pension system if they're eligible through their new employer or they hold a position for which other active employees are eligible.

3. Accrue additional savings in a second pension account

Your reemployment doesn't increase your pension benefit. You establish a second account. Second pension accounts are made up of contributions, interest, and possible matching employer funds.


Benefits to Re-Employment

Reemployment facilitates a smoother transition into retirement for many of our clients. It provides social interactions, nurtures a sense of purpose through engagement in meaningful work, and improves overall well-being.


  • Receive dual income from pension checks and reemployment earnings.
  • Overcome financial shortfalls for retirement, college savings, mortgage, debt payoff, and other expenses.
  • Be exempt from city and local taxes and all pension income.

OPTIONS WITH YOUR RETIRE/REHIRE ACCOUNT:

  1. Take an annuity if the payment is more than $25.00 per month.
  2. Roll it over into a qualified pretax account.
  3. Take a lump sum (taxes or increased Medicare premiums, if eligible may apply)
Book Your Appointment Now

Book Your Appointment Now

Three Creeks Capital Management

778 Northwest Blvd.

Columbus, OH 43212

614-486-4614

info@3creekscapital.com