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Do You Know Your Full Retirement Age for Social Security? - Yahoo.com
Knowing your full retirement age (FRA) is a very important part of your retirement plan. If you take your Social Security benefits before your FRA, you reduce the amount of your payment for the rest of your life.
In an article written in the Motley Fool, a survey from the Allianz Life Insurance Company of North America revealed that 55% of Americans still think their FRA is 65 years old. The changes scheduled following enactment of the 1983 Amendments called for the FRA applicable to those born between 1943 and 1954 to be set at 66, and to increase by two months each year for those born after 1954 and through 1959. As a result, FRA would reach 66 years and 10 months in 1959, and those born after 1959 would have an FRA of 67. Click here… to verify when you reach your FRA. To read the full article in The Motley Fool, click here…
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