First: the break
120 days
No Montana TRS-reportable work, counted from the day after your last day. For last days Jan 1, 2024 to Jun 30, 2029.
MCA 19-20-734 (temporary and effective July 1, 2029 versions); Working After Retirement fact sheet (Mar. 26, 2026), p. 2; 2023 Legislative Summary, p. 1 (HB 117)Then: the limit
49% of AFC
A year, or 49% of the median AFC if higher, through Jun 30, 2027. Over it, $1 less benefit for each $1.
MCA 19-20-731 (temporary and effective July 1, 2027 versions); Working After Retirement fact sheet (Mar. 26, 2026), p. 3; Montana TRS web page: Working After Retirement (Annual Earnings Limit); 2023 Legislative Summary, p. 1 (HB 117)The break in service
A newly retired member may not work in a Montana TRS-reportable position (as an employee, contractor or volunteer) until a break in service of 120 calendar days starting the day after the termination date (150 days for terminations from Jan. 1, 2014 through Dec. 31, 2023). The temporary 120-day rule ends June 30, 2029; the version effective July 1, 2029 sets 150 days. MCA 19-20-734 (temporary and effective July 1, 2029 versions); Working After Retirement fact sheet (Mar. 26, 2026), p. 2; 2023 Legislative Summary, p. 1 (HB 117)
A member's last day of work was June 12, 2024, so the retirement date was July 1, 2024. A paraprofessional job starting September 1, 2024 was too soon. The 120-day break ran through October 10, 2024, so the first allowed work day was October 11, 2024. Going back inside the break means, in Montana TRS's words, the member "has not terminated employment."
Terminating Employment and Retiring fact sheet (July 1, 2023), p. 3The 120 days start the day after the last day of work. The October date is our count, on the reading below.
The Working After Retirement fact sheet says the 120-day break begins the day after the termination date 'and ending on the 121st calendar day'; the statute says a break 'of 120 calendar days commencing on the first day following the member's date of termination'. We treat the 121st day after termination as the first day the retiree may work.
Working After Retirement fact sheet (Mar. 26, 2026), p. 2; MCA 19-20-734(1)(b)
By last day of work
| Last day | Break | First work day |
|---|---|---|
| Jun 9, 2023 | 150 days | Nov 7, 2023 |
| Jun 12, 2026 | 120 days | Oct 11, 2026 |
| Jun 15, 2029 | 120 days | Oct 14, 2029 |
| Jul 15, 2029 | 150 days | Dec 13, 2029 |
Our engine on the statute. 150 days applied to last days Jan 1, 2014 to Dec 31, 2023. The 120-day rule ends June 30, 2029; the version of the law that takes effect July 1, 2029 says 150 days.
The temporary 120-day rule terminates June 30, 2029; the version effective July 1, 2029 says 150 days for terminations on or after Jan. 1, 2014, without saying how it treats people who terminated while the 120-day rule was in force.
120 days for terminations Jan. 1, 2024 - June 30, 2029; 150 days otherwise
What would settle it: Montana TRS guidance, or 2027/2029 legislation extending the rule.
Work allowed during the break
After receiving at least one payment, a retiree may work up to 45 days during the break as a substitute for a temporarily absent regular K-12 classroom teacher or (from July 1, 2025) as a mentor for a newly hired teacher. Also allowed: continuing a position properly reported to PERS, bona fide volunteer positions, and emergency hires under §19-20-732/-735 after two payments. MCA 19-20-734(2); Working After Retirement fact sheet (Mar. 26, 2026), p. 2; 2025 Legislative Summary, p. 3 (HB 359)
The earnings limit
Each fiscal year a working retiree may earn, without a benefit reduction, the greater of 49% of their own AFC (raised each July 1 by the prior calendar year's CPI-W increase) or 49% of the median AFC of members who retired in the preceding fiscal year. The 49% provision ends June 30, 2027; the version effective July 1, 2027 is one-third. Over the limit, the benefit is cut $1 for each $1 over, and suspended once the excess exceeds one gross monthly benefit; if expected aggregate earnings exceed the limit, the benefit is suspended from the first day of work. MCA 19-20-731 (temporary and effective July 1, 2027 versions); Working After Retirement fact sheet (Mar. 26, 2026), p. 3; Montana TRS web page: Working After Retirement (Annual Earnings Limit); 2023 Legislative Summary, p. 1 (HB 117)
| Fiscal year | Share of AFC | On $60,000 |
|---|---|---|
| 2026-27through Jun 30, 2027 | 49% | $29,400 |
| 2027-28from Jul 1, 2027, current law | one-third | $20,000 |
Our engine, before the yearly inflation raise and the median-AFC test. Over the limit, on a $2,500 monthly benefit in 2026-27:
- Earn $31,000: $1,600 over, so $1,600 less benefit.
- Earn $33,000: $3,600 over, so benefit suspended (the excess is more than one $2,500 monthly benefit).
The 49% limit sunsets June 30, 2027 and the statute then reverts to one-third, unless the 2027 Legislature acts (2023 Legislative Summary p. 1 expects a review in the 2027 session).
49% for fiscal years through June 30, 2027; one-third afterwards
What would settle it: 2027 legislation or a Montana TRS notice.
The fact sheet says the median AFC is posted on the Montana TRS website; we didn't find it on the pages saved.
Caller supplies it; otherwise the member's own AFC is used
What would settle it: The current median AFC figure from Montana TRS.
Emergency hires
A retired teacher, specialist or administrator with 27+ years who has received benefits for at least 2 months may work full time for a qualifying district that couldn't fill the vacancy, for up to 5 years in a lifetime, with no earnings limit and no benefit reduction (through June 30, 2029; afterwards 30 years and 3 years). OPI may do the same under §19-20-735 through June 30, 2031. MCA 19-20-732, 19-20-735; Working After Retirement fact sheet (Mar. 26, 2026), p. 4; 2025 Legislative Summary, p. 2 (HB 158, HB 349)
- Through June 30, 2029: 27+ years of service, up to 5 years in a lifetime. Second- or third-class elementary or high school district.
- From July 1, 2029: 30+ years of service, up to 3 years in a lifetime. Any school district.
Other rules
- After you retire, you can't do any Montana TRS-reportable work (paid, contract or volunteer) for 120 calendar days, counted from the day after your last day. That's for terminations from January 1, 2024; under current law the 120-day rule runs through June 30, 2029, then the statute says 150 days.MCA 19-20-734; Working After Retirement fact sheet (Mar. 26, 2026), p. 2
- Example from Montana TRS: a teacher whose last day was June 12, 2024 retired July 1, 2024. Starting a paraprofessional job on September 1 was too soon.Terminating Employment and Retiring fact sheet (July 1, 2023), p. 3
- After your first payment, you may work up to 45 days during the break as a substitute for an absent K-12 classroom teacher or, from July 1, 2025, as a mentor for a new teacher.MCA 19-20-734(2); Working After Retirement fact sheet (Mar. 26, 2026), p. 2
- If you retire before 60, you can't have any agreement (even verbal) to go back to work for the same employer.Working After Retirement fact sheet (Mar. 26, 2026), p. 1; Terminating Employment and Retiring fact sheet (July 1, 2023), p. 2
- Each fiscal year (July-June) you can earn up to the greater of 49% of your AFC (raised yearly for inflation) or 49% of the median AFC of last year's retirees without losing benefits. Above that, your benefit drops $1 for each $1 over, and stops once the excess is more than a month's benefit.MCA 19-20-731; Working After Retirement fact sheet (Mar. 26, 2026), p. 3
- Check with Montana TRSThe 49% limit is set to end June 30, 2027; the law then goes back to one-third of AFC unless the Legislature changes it. Check with Montana TRS.Depends on what the 2027 Legislature does.MCA 19-20-731 (temporary and July 1, 2027 versions); 2023 Legislative Summary, p. 1
- Retirees with 27 or more years can return full time with no earnings limit to a small district that couldn't fill a job, for up to 5 years in total (through June 30, 2029), after at least 2 months of benefits.MCA 19-20-732; 2025 Legislative Summary, p. 2 (HB 158)
PERS positions with a different employer: no break or limit. Same employer: no restriction if the member was 60+ at retirement, or under 60 with no prearranged agreement. Concurrent Montana TRS and PERS work with one employer: both count toward the limit. Working After Retirement fact sheet (Mar. 26, 2026), p. 4
Retiree and employer file Form 146 at least annually; the employer reports earnings monthly. The retiree must give written notice within 30 days. MCA 19-20-731(6); Working After Retirement fact sheet (Mar. 26, 2026), p. 3
A retiree who becomes an active contributing member has benefits suspended. With 3+ years of new membership service the retiree later gets the old benefit plus a second benefit; with less, the old benefit plus a refund of the new contributions. MCA 19-20-733
Your own break and limit are in the calculator, under "Going back to work."
Questions
How long must I wait before working again after I retire from Montana TRS?
120 calendar days, counted from the day after your last day, if your last day falls between January 1, 2024 and June 30, 2029. No Montana TRS-reportable work in that time, paid, contract or volunteer, except up to 45 days as a substitute or mentor after your first payment.
How much can I earn as a working retiree?
Each fiscal year, the greater of 49% of your AFC (raised for inflation) or 49% of the median AFC of last year's retirees. Over that, your benefit drops $1 for each $1. The 49% rule runs through June 30, 2027; after that the law says one-third.
Can I work for PERS employers?
Yes. A PERS job with a different employer has no break or limit. With the same employer there's no restriction if you were 60 or older at retirement, or under 60 with no prearranged agreement.
Source: Montana TRS: Understand Your Benefits (web page) and fact sheets, Fetched Nov. 12, 2026; fact sheets revised 2019-2026, fact sheets: Terminating Employment and Retiring pp. 1-3; Working After Retirement pp. 1, 2, 3, 4. Also: Montana TRS web page: Working After Retirement; 2023 Legislative Summary; 2025 Legislative Summary; MCA §§ 19-20-731, 19-20-732, 19-20-733, 19-20-734, 19-20-735, 19-20-801, 19-20-810. Last reviewed .