DELAYED RETIREMENT CREDITS
01.Core Concepts
• Begin taking retirement distributions after full retirement age. • Permanent increased benefit: • Increases the benefit by 3% to 8% for each year of delayed retirement to age 70. Based on normal retirement age • 8% simple interest per year for those born on or after 1943 21 EARLY OR DELAYED RETIREMENT: FRA OF 67 30.00% 24.00% Early Retirement Reduction: • First 36 months: 5/9th of 1% per month20.00% 16.00% • After 36 months: 5/12th of 1% per month 8.00%10.00% 0.00% 0.00% -10.00% -6.67% Delayed Retirement -20.00% -13.33% -20.00% Increase: • After 1943, credits equal 8% per year -30.00% -25.00% -30.00%