38-766.01. Retired members; return to work

A. Notwithstanding section 38-766, at a retired member's election, a retired member may return to work and still be eligible to receive retirement benefits if all of the following requirements are satisfied:

1. The retired member has attained the member's normal retirement age.

2. The retired member terminated direct employment with an employer at least three hundred sixty-five consecutive days before returning to work.

3. If the retired member returns to work as a teacher, the retired member's employment is not subject to the requirements prescribed in sections 15-536, 15-538, 15-538.01 and 15-539 through 15-543.

B. Notwithstanding section 38-766 and subsection A of this section, at a retired member's election, a retired member may return to work as a state elected official who is subject to term limits and still be eligible to receive retirement benefits.

C. A retired member's election to return to work under this section is irrevocable for the remainder of the retired member's employment for which the retiree made the election.

D. The retired member shall acknowledge this section in writing and file the acknowledgement with the employer within thirty days after returning to work.

E. An employer of a retired member who returns to work pursuant to this section shall not pay contributions on behalf of the retired member pursuant to section 38-736, 38-737 or 38-797.05.

F. A retired member who returns to work pursuant to this section does not accrue credited service, member service as provided in section 15-1628, subsection B, paragraph 4, additional account balances, retirement benefits or long-term disability program benefits pursuant to article 2.1 of this chapter for the period the retired member returns to work. The period the retired member returns to work is not eligible for purchase under section 38-743 or 38-744.