DE HB63

Increases the annual earnings limit for state pensioners who return to work from $40,000 to $50,000, effective beginning in calendar year 2023

Pensioners who earn above the new $50,000 limit will have their state pension benefits reduced by $1.00 for every $2.00 earned over the threshold

Applies to pensioners employed under specific provisions of the Delaware Code, including those under age 65 who must have a 6-month separation from service before returning to work

Pension deductions for exceeding the earnings limit begin in July of the year following the calendar year in which excess earnings are reported