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Statement of Income Questions and Answers
Q: When is the Statement of Income (SOI) Form due?
A: Due to the COVID-19 outbreak, we have extended the deadline for your 2020 Statement of Income form. Please complete the form and return it to us no later than Monday, June 1, 2021.
Q: Do I need to send in an award notice?
A: No, If you have previously sent in the notice of award. Yes, if you have not sent in the notice of award previously.
Q: Should I report what I receive from you?
A: No. We want to know about any income that is received outside of what we send you.
Q: What should be reported?
A: You should report the GROSS amount of any salary, fees, and commissions for work or services performed, and other benefits paid to you for the previous year.
Q: Will I have to report my earnings from Long Term Disability and Short -Term Disability?
A: The Long Term and Short disability benefit do not have to be reported on the SOI.
Q: Will I have to report my leave payout?
A: Leave payout is not required to be reported on the SOI.
Q: I am receiving Short-Term Disability. Do I need to complete a Statement of Income?
A: Short-Term Disability benefits do not require a Statement of Income to be completed.
Q: I am receiving or did receive Extended Short-Term Disability in 2020. Which Statement of Income form should I complete?
A: You need to complete Form 296 Reporting Your Income to Continue Your Benefit Through the Disability Income Plan.
Q: I am receiving or did receive Long-Term Disability Benefits through the Disability Income Plan in 2020. Which Statement of Income form should I complete?
A: You need to complete Form 296 Reporting Your Income to Continue Your Benefit Through the Disability Income Plan.
Q: I receive Salary Continuation benefits through the Disability Income Plan. Which Statement of Income form should I complete?
A: You need to complete Form 297 Reporting Your Income To Continue Your Disability Salary Continuation Plan Benefit.
Q: I receive Disability Retirement. Which Statement of Income form should I complete?
A: You need to complete Form 237 Reporting Your Income to Continue Your Disability Retirement Benefit.
Re-Employment Questions and Answers
Q: Can I return-to-work and still collect my (TSERS – Teachers and State Employees Retirement Systems) retirement if I go back to my previous employer?
A: From the date of your retirement, there is a 6-month waiting period. After this requirement is met, you are able to return to work under the following circumstances:
- on a part-time, interim, temporary, contractual basis, or perform work that does not require membership
- You must not exceed your earnable allowance limit. You can earn whichever is greater:
- 50% of your gross pre-retirement salary (excluding termination payments) or
- $34,340 (2020 amount)
- If the earnings restriction is exceeded; the retirement benefits will suspend until January of the following year.
Q: Can I return to work and still collect my (LGERS – Local Governmental Employees Retirement Systems) retirement if I go back to my previous employer?
A: From the date of your retirement, there is a one-month waiting period. After this requirement is met, you can return to work under the following circumstances:
- on a part-time, interim, temporary, or contractual basis, or perform services that does not require membership
- You must not exceed your earnable allowance limit. You can earn whichever is greater:
- 50% of your gross pre-retirement salary (excluding termination payments) or
- $34,340 (2020 amount)
- If the earnings restriction is exceeded; the retirement benefits will suspend until January of the following year.
Visit the Return to Work Laws web page for more information.
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