1.     a.    Except as otherwise provided in section 15-39.1-19.2, a retired teacher who is receiving a retirement annuity under chapter 15-39, 15-39.1, or 15-39.2 may not return to covered employment until thirty calendar days have elapsed from the member’s retirement date. A retired member may then return to covered employment under an annual hour limit and continue receiving a monthly retirement benefit. The annual hour limit is based on the length of the re-employed retiree’s contract as follows:

(1) Retiree re-employment of nine months or less, annual limit is seven hundred hours; (2) Retiree re-employment of ten months, annual limit is eight hundred hours; (3) Retiree re-employment of eleven months, annual limit is nine hundred hours; or

(4) Retiree re-employment of twelve months, annual limit is one thousand hours.

b.    Employment as a noncontracted substitute teacher, professional development, and extracurricular duties do not apply to the annual hour limit. The fund may not collect contributions for these activities.

c.    The retired member and the retired member’s employer must notify the fund office in writing within thirty days of the retired member’s return to covered employment.

d.    A retired member who returns to teaching shall pay the member contributions required by section 15-39.1-09 on the salary received by the retired member. The member contributions must be included in the retired member’s account value     and may not be refunded except as provided under subdivision a of subsection 2 of section 15-39.1-19.1 and section 15-39.1-17.

e.    A participating employer who employs a retired member under this section shall pay the employer contributions required by section 15-39.1-09 on the salary of the retired member.

f.    A retired teacher who returns to teaching and does not exceed the annual hour limit must be treated as retired for all other purposes under this chapter. A retired teacher may not earn any additional service during the period of re-employment. The retired teacher’s benefits may not be adjusted to reflect changes in the retired teacher’s age or final average monthly salary at the end of the period of re-employment, any optional form of payment elected under section 15-39.1-16 remains effective during and after the period of re-employment, and additional benefits normally available to an active member, such as disability benefits, are not available to a retired teacher re-employed under this section.

g.    A retired teacher who returns to teaching and exceeds the annual hour limit must immediately notify the fund office in writing. Failure to notify the fund office results in the loss of one month’s annuity benefit for the member. The retired member’s monthly benefit must be discontinued the first of the month following the date the member reaches the annual hour limit.

2.    Upon the subsequent retirement of a member who returns to teach and whose monthly benefit is discontinued, the member’s benefit must be resumed as follows:

a.    The member must have selected the same benefit option as the option selected at initial retirement.

b.    The member’s total benefit upon subsequent retirement must equal the original benefit plus the calculated benefit for the return to work period.

c.    The member’s benefit attributable to any return to work must be based upon service and earnings attributable to the return to work period only and be calculated as follows:

(1) The member’s calculated benefit must be based on the benefit provisions in effect at subsequent retirement and must include the salary earned during the period of re-employment, total service credits earned after re-employment, and actuarial factors in effect at subsequent retirement.

(2) If a member dies during subsequent employment, the member’s initial retirement benefit option election applies and the date of death is considered the subsequent retirement date.