The Effect of Changing Social Security’s Full Retirement Age (FRA)
In recent years, much discussion has ensued in political circles, as well as in “media pundit” circles, about how to fix Social Security’s looming financial crisis, an issue which has been forecasted for decades by the Trustees of America’s most important benefit program. Numerous ideas and proposals have been put forth for restoring the program to solvency, and one potential “fix” often discussed is to raise Social Security’s full retirement age, or “FRA,” to account for the very real fact that life expectancy has, over the years, increased dramatically. And increased longevity means that people are now often collecting benefits for decades, rather than just a few years as originally envisioned by the program’s authors. In this CNBC article by Lori Konish, the author explains how raising the Social Security full retirement age could affect benefits. Click here to read more.
AMAC has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee. AMAC has been discussing and continues to discuss this common-sense solution with Congressional Representatives in its efforts to protect America’s senior citizens who rely on Social Security. To review AMAC‘s Social Security Guarantee, click here.