Going back to work after IPERS

• Between ages 55 and 70, you must complete a bona fide retirement before working for any IPERS-covered employer. You can work in a non-covered job for a covered employer starting the month after your first benefit month. You can take a covered job four months after it. For example, if your first benefit is in January, that's February for a non-covered job and May for a covered one.Member Handbook (2025), p. 51, Bona Fide Retirement; Your Bona Fide Retirement Period
• Licensed teachers who retire between July 1, 2024 and June 30, 2027 can return to covered teaching after one month of benefits instead of four. This exception doesn't apply to citizen coaches or to substitutes the district treats as temporary.IPERS web page Licensed Teachers; Iowa Code §97B.52A(1)(c)(2)(d)
• You can't arrange a return to work, in writing or verbally, before you retire. If you break the bona fide retirement rules, your retirement is canceled and you must repay everything you received, plus interest.Member Handbook (2025), pp. 51-52
• From 55 up to 65, IPERS-covered earnings are limited to $50,000 a calendar year or the Social Security earnings limit, whichever is higher. For each dollar over, IPERS recovers 50 cents, so going $10,000 over costs $5,000. The limit ends at 65, and it never applies to work for non-IPERS employers.Member Handbook (2025), p. 52, Earnings Restrictions; IPERS web page Earnings Restrictions
• When you stop working again, IPERS can add a benefit for the extra service. If the reemployment lasted less than 7 years, that addition is based on what you contributed while reemployed.Member Handbook (2025), p. 53, Reretirement and Recomputation

The bona fide retirement table

From age 55 to 70 you must complete a bona fide retirement before returning to any IPERS-covered employer: approved application, left all covered employers (including non-covered positions), receiving benefits, no prearranged agreement. You may start a non-covered position with a covered employer the month after your first benefit month and a covered position four months after (e.g. first benefit January: non-covered February, covered May). Non-IPERS employers: any time. At 70 or older you may return any time. Member Handbook (2025), pp. 50-52, Returning to Work After Retirement; Your Bona Fide Retirement Period

Violating the rules cancels the retirement application and requires repaying all benefits plus interest. Member Handbook (2025), p. 52

Licensed teachers: one month, through June 2027

Members whose retirement (first month of entitlement) is July 2024 through June 2027 may return to covered employment as a licensed teacher after one month of benefits instead of four. It does not cover citizen coaches or substitutes the employer treats as temporary. IPERS web page Licensed Teachers; Member Handbook (2025), p. 52, Exceptions

The earnings limit, from 55 up to 65

Age 55 up to 65, after a bona fide retirement, covered wages are limited to $50,000 a calendar year or the Social Security annual earnings limit, whichever is higher; IPERS recovers 50 cents for each dollar over. Bonuses, allowances and employer contributions to DC and deferred compensation plans count. No limit from age 65 or for elected officials, or for work with non-IPERS employers. Member Handbook (2025), pp. 52-53, Earnings Restrictions

If you know you will exceed the limit you may ask IPERS in writing to suspend benefits for the next calendar year. IPERS web page Earnings Restrictions

The Licensed Teachers page says reemployed retirees 'may not earn more than $50,000 per calendar year'. The handbook and Iowa Code 97B.48A(1)(a) set the limit at $50,000 or the Social Security earnings limit, whichever is higher, with a 50-cent-per-dollar reduction rather than a ban. We follow the handbook and Iowa law. IPERS web page Licensed Teachers; Member Handbook (2025), p. 52; Iowa Code §97B.48A(1)(a)

When you stop working again

Reemployment is a separate period of service; recomputation uses no more than 30 years in total. If the reemployment period is under 7 years (under 4 years if before July 1, 2012), the extra benefit is a money purchase amount based on contributions while reemployed. You may add it to your monthly payment or take a lump sum. Member Handbook (2025), p. 53, Reretirement and Recomputation

The calculator shows your own return-to-work dates. See also Social Security.