Tag: claiming early
Not that far, but high earners, who live long and claim late, come out ahead. The option to claim Social Security early was introduced over 60 years ago, when Congress set 62 as the program’s “Earliest Age of Eligibility.” To keep lifetime benefits constant, on average, those claiming at 62 receive 20 percent less in…
Introduction Traditionally Social Security’s Normal Retirement Age has been 65, but for the last 45 years both men and women have had the option to claim benefits at the Early Eligibility Age (EEA) of 62. In exchange for claiming early, individuals receive a smaller monthly benefit. The legislation that established the EEA reduced benefits by…