Tag: full retirement age
The brief’s key findings are: Monthly Social Security benefits claimed at age 62, rather than 65, are reduced about 20 percent to avoid additional costs to the program. When the reduction was set over 50 years ago, a worker claiming at 62 received benefits about 20 percent longer. As life expectancy has risen, this worker…
Abstract This study uses the Health and Retirement Study to deepen our understanding of the characteristics of nonworking adults ages 51 to 61 and how they support themselves before qualifying for Social Security benefits. The results show that nonworking adults ages 51 to 61 are a heterogeneous group. A large share is poor, with low…
