Sunday, April 29, 2012

US Social Security Information

US Social Security Information
Exhibit: Full Retirement and Age 62 Benefits, by Year of Birth
 Year of birth
Full retirement age
1937 and prior65
193865 and 2 months
193965 and 4 months
194065 and 6 months
194165 and 8 months
194265 and 10 months
1943-5466
195566 and 2 months
195666 and 4 months
195766 and 6 months
195866 and 8 months
195966 and 10 months
1960 and later67
Note: persons born on January 1 of any  
year  should refer to the normal retirement 
age for the previous year.
Source: Social Security Handbook-Section 723.5
THE EARLIEST AGE FOR FULL BENEFITS
Through most of Social Security’s history, 65 was the magic age. Claiming retirement benefits before then and you can start as early as age 62 meant accepting a lifetime reduction in benefits. For folks retiring this year, though, the magic age is 66 ... and the age at which you can start collecting benefits without being docked for starting early -- or being threatened by the earnings test -- is increasing.
Exhibit: Earliest Age for Full Retirement Benefits
                                                                         Cut in benefits
Birth year         Full retirement age           if claimed at 62
1943-19546625.00%
195566 and 2 months25.83
195666 and 4 months26.67
195766 and 6 months27.50
195866 and 8 months28.33
195966 and 10 months29.17
1960 and later6730.00 

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