ND SB2331

Retired teachers may return to covered employment after 30 calendar days from retirement and continue receiving monthly retirement benefits if they stay within annual hour limits (700-1000 hours depending on contract length).

Noncontracted substitute teacher employment, professional development, and extracurricular duties do not count toward the annual hour limit.

Retired members returning to teaching must pay member contributions on salary received, which are added to their account value and factored into benefit adjustments upon subsequent retirement.

Upon subsequent retirement, benefit adjustments depend on additional service earned: less than two years results in refund of contributions plus discontinued annuity with actuarial adjustment; two to five years or five or more years allow for greater of two calculation methods comparing discontinued plus additional annuity against recalculated annuity.

The adjusted benefit becomes effective the first day of the month following the retired member's re-retirement, and the new annuity includes actuarial adjustments based on total retired member contributions paid prior to benefit suspension.