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How will the Claiming Age Clarity Act affect your Social Security payment?
Quick answer: It won’t. The Claiming Age Clarity Act (H.R. 5284) is intended simply to make the implications of decisions for those approaching Social Security eligibility mor easily understood. The measure is really nothing more than a terminology change intended to help the newly eligible understand the long-term effects of the timing decisions they make when claiming benefits.
As explained in a en.as.com post by Roddy Cons, the bill includes the following specific wording changes:
- “Early eligibility age” would become “minimum benefit age.”
- “Full retirement age” would become “standard benefit age.”
- References to age 70 as the maximum age for earning delayed retirement credits would use “maximum benefit age.”
The bill has passed both the House and the Senate, and is now awaiting President Trump’s signature.
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