The 2008 earnings limitation is applied in the following manner:
* If an OPERS retiree will remain below the SSA full retirement age for the entire 2008 calendar year, their federal earnings limit is $13,560.
* If an OPERS retiree will reach SSA full retirement age in 2008, their earnings limit is $36,120 up to the date they reach full retirement age.
When a retiree’s salary exceeds the allowable amount, benefits will not be paid for the remainder of that calendar year or until employment terminates, should termination occur before the end of the calendar year. The retiree will begin receiving benefits again in January of the following calendar year. Just as before, the benefits will continue until their salary meets the allowed earnings for that year.
For more information click here .