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Lawmakers Could Raise Social Security's Full Retirement Age. Here's What That Might Mean for You
Lawmakers don't want to see those cuts happen, so they've been talking through different solutions to prevent them. And one such solution is to raise Social Security's full retirement age. Currently, that age is 67 for anyone born in 1960 or later. Some lawmakers feel that pushing that age to 69 could help prevent broad Social Security cuts.
Full retirement age—also called normal retirement age—is the age when Americans receive full Social Security benefits. Your full retirement age varies depending on the year you were born.
The full retirement age is set to increase again by two months, to 66 years and 10 months old, for people born in 1959. That means the higher FRA for that cohort will go into effect in 2025, ...
If you wait until your full retirement age, you can collect 100% of your Social Security retirement benefit. Initially, when the Social Security Act was signed into law in 1935, that age was 65.
The "full retirement" age, when people can collect the maximum Social Security amount, is 67 for people born in 1960 or later. For those born between 1955 and 1959, the retirement ages are as ...
Full retirement age is 66 and 10 months for those born in 1959 and 67 for those born in 1960 or later -- it varies depending on your birth year.
According to the SSA, individuals born between May 2, 1958, and February 28, 1959, will reach their full retirement age in 2025.For those born in 1960 and later, the full retirement age will ...
The term “full retirement age,” or FRA, didn’t exist and wasn’t needed. Advertisement. But in the early 1980s, the Social Security program was reaching a financial crunch point.
Fidelity recommends putting aside three times your annual income by age 40. Here's how to get the most out of your savings to ...
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