If you are under full retirement age for the entire year, $1 is deducted from your benefit payments for every $2 you earn above the annual limit of $15,120 (in 2013). If this is the year that you reach the full retirement age, $1 is deducted for every $3 you earn above $40,081 (in 2013) in the months before your birthday's month. Once you reach full retirement age there is no longer an earnings limit.
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