Our daily roundup of retirement news your clients may be thinking about.
Opinion: Why raising Social Security’s ‘full retirement age’ is a bad idea Increasing Social Security’s full retirement age from 65 to 67 will reduce the percentage of benefits that workers may claim earlier than the FRA, according to this opinion column in MarketWatch. Meanwhile, those who intend to increase their retirement age from 66 to 67 to claim full monthly benefits will receive benefits for one less year. Low-paid workers, who were more likely to retire early than high-wage earners, will be especially affected in the event of continuous FRA increases.
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