The Oregon Public Employees Retirement System sets a limit of 1039 [599] hours of employment for State of Oregon retirees to work during a calendar year. If a retired state employee works more than 1039 [599] hours for the state, he or she loses all monthly PERS income; and must pay back all income paid by PERS while he or she was working.
To determine the maximum dollar amount a retired employee may receive within a calendar year, use the following method:
12 month Faculty:
Divide the 12–month full time annual rate the employee had at the time of retirement by 2080 to arrive at the hourly rate. Multiply the hourly rate by 1039 = maximum amount allowed in the calendar year.
9 month Faculty:
Convert the 9–month annual rate (A) to a 12–month annual rate (B)
(A x 1.2222=B)
Divide the 12–month full time annual rate the employee had at the time of retirement by 2080 to arrive at the hourly rate. Multiply the hourly rate by 1039 = maximum amount allowed in the calendar year.
Once the maximum dollar amount has been established, the retiree may be paid on a 9–month or 12–month job, depending on the department/unit needs.
The retiree on a "1040–Hour" appointment must be paid at their retired salary rate. In addition, they will be eligible to receive all across–the–board adjustments provided by the State Board of Higher Education and the legislature for state–funded Oregon State University faculty members with fully satisfactory service.
As with relinquishment of tenure agreements, there is no obligation to grant any faculty member a 1040–hour appointment. Once granted, all 1040–hour appointments are contingent upon departmental need, continuing satisfactory service, and available budgetary reserves of the department. The terms of 1040–hour agreements are subject to and do not override the provisions of OAR 580–21–315.
