778 Northwest Blvd.,
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.
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.
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.
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.
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.
Three Creeks Capital Management
778 Northwest Blvd.
Columbus, OH 43212