Section 212. Employment of retired persons

1.  Notwithstanding  the
  provisions of section one  hundred  one,  two  hundred  eleven  or  four
  hundred  one  of  this  chapter  or of section five hundred three of the
  education law, or the provisions  of  any  local  law  or  charter,  any
  retired  person may continue as retired and, without loss, suspension or
  diminution of his or her retirement allowance, earn  in  a  position  or
  positions in public service in any calendar year an amount not exceeding
  the  amount  set  forth  in the table in subdivision two of this section
  provided such retired person employed under this section  duly  executes
  and files with the retirement system from which he or she is receiving a
  retirement  allowance  a statement that he elects to have the provisions
  of this section apply to him or her. A statement  of  election  executed
  and  filed pursuant to this section may be withdrawn by a retired person
  at any time by a statement similarly executed and filed. However,  there
  shall  be no earning limitations under the provisions of this section on
  or after the calendar year in  which  any  retired  person  attains  age
  sixty-five.  The  retirement  board  of  the  New  York  state teachers'
  retirement system is authorized to adopt  rules  and  regulations  which
  would  allow  retired persons receiving a retirement allowance from such
  system to make such statements of earnings from a position or  positions
  in public service as such board shall determine necessary to enforce the
  provisions  of  this  section  in  lieu  of  the  foregoing statement of
  election.
    2. The earning limitations for retired persons in positions of  public
  service  under  this  section  shall be in accordance with the following
  table:
 
          For the year               Earnings limitation
              1996                         $12,500
              1997                         $13,500
              1998                         $14,500
              1999                         $15,500
              2000                         $17,000
              2001                         $18,500
              2002                         $20,000
              2003                         $25,000
              2004                         $27,500
              2005 and 2006                $27,500
              2007 and thereafter          $30,000