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However, the IRS rule of 55 may allow you to receive a distribution in the year you reach age 55 or later (and before age 59½) without triggering the early penalty if your plan provides for such ...
What’s more, if you quit work at 55 when you may have reached your peak earnings due to career advancement, you could still end up reducing your benefits even if you do have 35 years on the job ...
Can I retire at 55? If you're interested in early retirement, it helps to understand the unique financial planning challenges involved.
Year of birth. Full retirement age. 1937 and before. 65. 1938-1942. 65 + 2 months for each year past 1937. 1943-1954. 66. 1955-1959. 66 + 2 months for each year past 1954
Congress raised the FRA in 1983 to 66-67, staggered in two-month increments depending on birth year. Age to receive full retirement benefits. Birth year. Full retirement age. 1943–1954. 66.
Retirement Age: 65 Years Old Those who claim at 65 will receive 86.7% of the full monthly benefit, which drops the average from $1,784 to $1,544.99. 65 + 1 month: $1,553.90 (87.2%)
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