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About Social Security’s “Full Retirement Age” - CBS News
Social Security’s “full retirement age” or “FRA” is when you get the full benefits you have earned from a lifetime of working. Those full benefits, based on your highest-earning 35 years, will be available at your FRA which, this year, is reaching a milestone set in motion over 40 years ago – 1983 legislation changed the FRA to increase with the beneficiary’s birthdate. The FRA, which was traditionally age 65, would increase to age 67 over a period of years. Those born after 1954 would see their FRA increase by 2 years for each year after 1954, up to birthyear 1960 (and thereafter) when their FRA would be age 67. And that means that 2026 is the year in which the final increase in full retirement age will occur – anyone born after 1959 will have an FRA of age 67. All of this, and the implications for your retirement, are explained in this CBS News article by Aimee Picchi.
Also, if you’re unsure about how these basics apply to you, or if you have any questions about your individual situation under Social Security, note that the AMAC Foundation provides a free-to-the-public advisory service to help Americans navigate the complexities of this program. All questions are answered quickly, at no charge. Learn more about it here…