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Birth Year. Full Retirement Age. Payout From $1,000 Benefit If Taken At 62. 1943-1954. 66. $750. 1955. 66 and 2 months. $741. 1956. 66 and 4 months. $733. 1957. 66 and 6 months
Using data from the University of Michigan's Health and Retirement Study, United Income extrapolated the Social Security claiming decisions of 20,000 workers to determine if they were optimal.
Your FRA is the age when you become eligible to receive your full Social Security retirement benefit and it’s based on your date of birth. For example, if you were born between 1943 and 1954 ...
Birth year. Full retirement age. 1943–1954 ... if you were born in 1960 or later and file for Social Security as soon as you’re eligible at age 62, your monthly benefit would see a 30 percent ...
A separate analysis from the Center on Budget and Policy Priorities found that the poverty rate for adults aged 65 and above would be nearly four times higher if Social Security didn't exist -- 10 ...
Birth Year. Full Retirement Age (FRA) 1943 to 1954. 66. 1955. 66 and 2 months. 1956. 66 and 4 months. 1957. 66 and 6 months. 1958. 66 and 8 months. 1959. 66 and 10 months