Tag: full retirement age
The brief’s key findings are: Due to increases in Social Security’s Delayed Retirement Credit, the effective retirement age is now 70, with monthly benefits reduced for earlier claiming. Benefit levels at 70 appear appropriate given that rising deductions for Medicare and greater benefit taxation have reduced Social Security’s net replacement rates. The shift to 70 should b…
The brief’s key findings are: For married households, the amount of pre-retirement income replaced by Social Security depends on the labor force activity of both spouses. At the high end, couples with a non-working spouse get the replacement rate from the worker’s benefit and from a spousal benefit. At the low end, couples with two…
