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1960 and later. 67. While the full retirement age used to be 65, changes to the program have increased that age. For example, those born in 1955 now have to wait an extra two months beyond age 66 ...
Between 1985 and 2015, claiming of retirement benefits at the early retirement age became much less common and claiming at the full retirement age or later more common. In 2019, 1 in 4 individuals claimed at the early retirement age. [47]
Your full retirement age: If you were born Jan. 2, 1959 through Jan. 1, 1960, your full retirement age for retirement insurance benefits is 66 years and 10 months.
You can get Social Security retirement benefits as early as age 62, but your benefits will be reduced vs. what they would be if you waited until full retirement age.
Although traditionally many Americans have envisioned retirement age as 65, according to the Social Security Administration, for those born in 1960 or later "full retirement age" is actually 67.
55.67. 2022. The retirement age will gradually increase to 62 for males by 2028 and 60 for females by 2035. In 2021, the retirement age is 60.25 (age 60 and 3 months) for men and 50.33 (age 50 and 4 months) for women, the age will be increased by 3 months each year following for men and 4 months for women.
In the year of an individual's full retirement age, up until the precise month of full retirement, $1 of benefits is deducted for every $3 that is earned over the annual limit ($44,880 for 2017). Regardless of the level of earnings, there are no deductions from benefits beyond full retirement age. Alternative computation methods
Age 65 was the retirement age for decades before Congress overhauled Social Security in 1983, leading to a gradual rise in the FRA. In 2023, many people born in 1956 and 1957 will reach full ...
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