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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. But, you are not required to report unemployment or stimulus benefits.

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
  • $34,800 (2021 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
  • $34,800 (2021 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.