The Claiming Age Clarity Act - ThinkAdvisor
The Claiming Age Clarity Act (H.R. 5284) passed the House on Monday and was sent to the Senate for consideration. The bill aims to simplify Social Security terminology to help retirees better understand their benefits and make informed claiming decisions. Social Security (SSA) must use the minimum monthly benefit age instead of the early eligibility age. The SSA must use the standard monthly benefit age instead of the full retirement age and the normal retirement age. The SSA must use the maximum monthly benefit age for any reference to age 70 as the maximum age at which a worker may receive delayed retirement credits. Melanie Waddell, writing for ThinkAdvisor, explains why the change in terminology is beneficial to future Social Security recipients. Read Ms. Waddell’s article here…
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