SOCIAL SECURITY RETIREMENT BENEFITS
01.Core Concepts
• Retirement benefit payable at retirement • Fully insured retirees • Full retirement age (FRA) increases based on year of birth • Increased benefit for delayed retirement • Retirement BEYOND full retirement age • Decreased benefit for early retirement • Retirement BEFORE full retirement age 15 AGE FULL RETIREMENT BENEFITS BEGIN (FULL RETIREMENT AGE) Full Retirement Age With Full Benefits Year Born 65 years Before 1938 65 years, 2 months 1938 65 years, 4 months 1939 65 years, 6 months 1940 65 years, 8 months 1941 65 years, 10 months 1942 66 years 1943 – 1954 66 years, 2 months 1955 66 years, 4 months 1956 66 years, 6 months 1957 66 years, 8 months 1958 66 years, 10 months 1959 67 years 1960 - present