This recording presents the viewpoints of the AMAC Foundation’s Social Security Advisory Staff, trained and accredited under the National Social Security Advisors program of the National Social Security Association, LLC (NSSA). NSSA and the AMAC Foundation are not affiliated with or endorsed by the United States Government, the Social Security Administration, or any other state government. To request additional information, contact our Advisory Staff at 888-750-2622, or email us at SSAdvisor@AmacFoundation.org.
Retirement Age
Born in 1963
David:
With a birth year of 1963, your full retirement age is 67. Currently, anyone born in 1960 or later will have 67 as their FRA.
Gerry Hafer
AMAC Foundation Social Security Advisory Service
Full retirement born in 1969
Randall:
Anyone born in 1960 or later has a full retirement age of 67.
Gerry Hafer
AMAC Foundation
At what age can I retire born in 1979
Priscilla:
Since you were born after 1979, your full retirement age is 67. You will be eligible for early retirement at age 62, although be advised that under current Social Security law your benefit would be reduced by about 30% at age 62. As you may be aware, the program is facing a solvency issue that will result in full depletion of cash reserves in about a decade followed by an across-the-board reduction in benefits. To avoid this happening, Congress will likely take action to reform portions of the Social Security program, and changes to retirement ages will likely be a part of that reform. Stay tuned!
Gerry Hafer AMAC Foundation
CONFIDENTIALITY NOTICE: The contents of this message, including any attachments, are confidential and are intended solely for the use of the person or entity to whom the message was addressed. If you are not the intended recipient of this message, please be advised that any dissemination, distribution, forwarding, printing, copying, or use of the contents of this message, and any attached documentation, is strictly prohibited. If you received this message in error, please notify the sender. Please also permanently delete all copies of the original message and any attached documentation. The opinions and interpretations expressed in this message are the viewpoints of the message’s author, a trained advisor accredited under the National Social Security Advisors program of the National Social Security Association, LLC (NSSA). The author, the NSSA, and the AMAC Foundation are not affiliated with or endorsed by the United States Government, the Social Security Administration, or any other state government.
My mom is 65 and wants to retire. When can she apply to retire? How long is the process?
Wanda:
Your mom’s full retirement age is 66 years and 6 months, so when she reaches that age she will be eligible for her full retirement benefit, provided that she has earned the required credits. Basically, she would need to have accumulated 40 credits (credits are accrued based on earnings, a maximum of four credits earned annually), or 10 years of working and earning the specified amount to receive the credits (in 2022, for example, each $1510 of earnings produces a credit, so earning $6040 would provide four credits.) The earnings amount required for each credit changes every year, so you would need to review her work history to be sure she has the required credits. Generally, if she’s worked for more than ten years, she should have the required credits. Creating a mySocialSecurity account can give her the information to make this determination. See https://www.ssa.gov/myaccount
If she wants to retire now, at age 65, she can do that online at https://www.ssa.gov/benefits/forms/, or by telephone at 1-800-772-1213, and we advise beginning this application process three months before the month she wants payments to begin. Make sure she’s aware, however, that her benefit at age 65 will be reduced from what would be available to her at age 66 and 6 months (the reduction is about one-half of 1% for each month she starts benefits before reaching her full retirement age.)
Also, make sure she’s aware that if she continues to work after beginning her retirement benefits, there is a limit on the amount of earnings she can have before Social Security will “take back” some of the benefit paid. This limitation goes away when she reached age 66 and 6 months.
If we can provide any further assistance to you or our mom in this process, please contact our Social Security Advisory Service at 888-750-2622 or by email at SSAdvisor@AmacFoundation.org.
Gerry Hafer
AMAC Foundation
CONFIDENTIALITY NOTICE: The contents of this message, including any attachments, are confidential and are intended solely for the use of the person or entity to whom the message was addressed. If you are not the intended recipient of this message, please be advised that any dissemination, distribution, forwarding, printing, copying, or use of the contents of this message, and any attached documentation, is strictly prohibited. If you received this message in error, please notify the sender. Please also permanently delete all copies of the original message and any attached documentation. The opinions and interpretations expressed in this message are the viewpoints of the message’s author, a trained advisor accredited under the National Social Security Advisors program of the National Social Security Association, LLC (NSSA). The author, the NSSA, and the AMAC Foundation are not affiliated with or endorsed by the United States Government, the Social Security Administration, or any other state government.
What is my full retirement age is
William:
Your Full Retirement Age depends on your year of birth. Please refer to the chart below to determine your FRA:
Year of Birth Full Retirement Age
1937 and earlier 65
1938 65 plus 2 months
1939 65 plus 4 months
1940 65 plus 6 months
1941 65 plus 8 months
1942 65 plus 10 months
1943 – 1954 66
1955 66 plus 2 months
1956 66 plus 4 months
1957 66 plus 6 months
1958 66 plus 8 months
1959 66 plus 10 months
1960 and later 67
Thanks for contacting the AMAC Foundation Social Security Advisory Service.
Gerry Hafer
AMAC Foundation
CONFIDENTIALITY NOTICE: The contents of this message, including any attachments, are confidential and are intended solely for the use of the person or entity to whom the message was addressed. If you are not the intended recipient of this message, please be advised that any dissemination, distribution, forwarding, printing, copying, or use of the contents of this message, and any attached documentation, is strictly prohibited. If you received this message in error, please notify the sender. Please also permanently delete all copies of the original message and any attached documentation. The opinions and interpretations expressed in this message are the viewpoints of the message’s author, a trained advisor accredited under the National Social Security Advisors program of the National Social Security Association, LLC (NSSA). The author, the NSSA, and the AMAC Foundation are not affiliated with or endorsed by the United States Government, the Social Security Administration, or any other state government.
Born in 1958, at what age does the amount I can earn go away?
Tony:
Based on your 1958 birth year, your full retirement age (FRA) is 66 years and 8 months. The earnings test does not apply after full retirement age (FRA) is reached. Starting at the month you reach FRA, earnings will no longer affect your monthly Social Security benefit, regardless of how much you earn. The annual earnings limit increases by about 2 ½ times during the year FRA is reached and disappears completely once FRA is attained; so, since you will reach your FRA in 2024, the limit applied in that year will be much larger than the monthly limit (for an FRA attained in 2022, for example, that limit is $51.960 and is adjusted annually).
Please feel free to contact us at 888-750-2622 (or via email at SSAdvisor@AmacFoundation.org) if you have any further questions.
Gerry Hafer, Social Security Advisor
AMAC Foundation
CONFIDENTIALITY NOTICE: The contents of this message, including any attachments, are confidential and are intended solely for the use of the person or entity to whom the message was addressed. If you are not the intended recipient of this message, please be advised that any dissemination, distribution, forwarding, printing, copying, or use of the contents of this message, and any attached documentation, is strictly prohibited. If you received this message in error, please notify the sender. Please also permanently delete all copies of the original message and any attached documentation. The opinions and interpretations expressed in this message are the viewpoints of the message’s author, a trained advisor accredited under the National Social Security Advisors program of the National Social Security Association, LLC (NSSA). The author, the NSSA, and the AMAC Foundation are not affiliated with or endorsed by the United States Government, the Social Security Administration, or any other state government.
Should I draw ss at age 62 or 65?
S. Crosswhite,
When thinking about when to start your Social Security benefits you need to take into consideration your health, your finances and your family longevity. If you are in good health, do not need the money at this time and your family generally lives into their eighties and nineties it may be prudent to wait longer so you will have a higher payment throughout your life. If you are under Full Retirement Age you also need to consider the “earnings test”. If you are working and you make over $21,240.00 in 2023 Social Security will take back $1 for every $2 you are over the limit.
Only you can decide when is the best time to start your Social Security benefits based on your own individual situation.
If you have further questions please contact us either by email at ssadvisor@amacfoundation.org or call (888)750-2622.
Arlene Sharp
AMAC Foundation
CONFIDENTIALITY NOTICE: The contents of this message, including any attachments, are confidential and are intended solely for the use of the person or entity to whom the message was addressed. If you are not the intended recipient of this message, please be advised that any dissemination, distribution, forwarding, printing, copying, or use of the contents of this message, and any attached documentation, is strictly prohibited. If you received this message in error, please notify the sender. Please also permanently delete all copies of the original message and any attached documentation. The opinions and interpretations expressed in this message are the viewpoints of the message’s author, a trained advisor accredited under the National Social Security Advisors program of the National Social Security Association, LLC (NSSA). The author, the NSSA, and the AMAC Foundation are not affiliated with or endorsed by the United States Government, the Social Security Administration, or any other state government.
I was born in 1957. What age can I fully retire
Hello Belinda,
Your Full Retirement Age is 66 years and 6 months. At that age you will receive 100% of the benefit you have earned over the course of your working history. Also, if you continue working the “earnings limit” no longer applies so your benefit will not be affected by your income.
You may contact us by emailing ssadvisor@amacfoundation.org or calling (888)750-2622.
Arlene Sharp, Social Security Advisor
AMAC Foundation
http://www.AmacFoundation.org
CONFIDENTIALITY NOTICE: The contents of this message, including any attachments, are confidential and are intended solely for the use of the person or entity to whom the message was addressed. If you are not the intended recipient of this message, please be advised that any dissemination, distribution, forwarding, printing, copying, or use of the contents of this message, and any attached documentation, is strictly prohibited. If you received this message in error, please notify the sender. Please also permanently delete all copies of the original message and any attached documentation. The opinions and interpretations expressed in this message are the viewpoints of the message’s author, a trained advisor accredited under the National Social Security Advisors program of the National Social Security Association, LLC (NSSA). The author, the NSSA, and the AMAC Foundation are not affiliated with or endorsed by the United States Government, the Social Security Administration, or any other state government.