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Your Full Retirement Age, And How It Affects Your Social Security Benefit - Yahoo! News
Your Social Security “full retirement age” (or “FRA” as it is affectionately known) plays a big part in how much your monthly benefit will be when you claim Social Security. No longer age 65 for everyone (as it was for decades), FRA is now determined by the year you were born - for those becoming eligible for Social Security in 2022, your FRA is 67, the current maximum. Everyone retiring today will have a full retirement age between 66 and 67, and when SS benefits are claimed relative to each person’s FRA has a major influence on their benefit payment; claiming before FRA means a permanently reduced monthly benefit, while waiting beyond FRA means a permanently increased benefit amount. All of this is explained in this Yahoo! News article by Emily Brandon. Click here to read more.
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 service to help Americans navigate the complexities of this program. Learn more about it here…
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.