Feb 14, 2017

Full Retirement Age Increasing

     From U.S. News and World Report:
Most baby boomers can receive the full amount of Social Security they have earned at age 66. However, retirees who will turn 62 in 2017 need to wait an extra two months to collect their full Social Security payments. Starting this year the retirement age begins a gradual increase toward age 67. Here's how the older retirement age will impact how much you receive from Social Security.
A longer wait to claim full payments. The Social Security full retirement age is 66 for people born between 1943 and 1954. For those born during the five years after that, the full retirement age will gradually increase in two-month increments from 66 and 2 months for people born in 1955 to 66 and 10 months for those born in 1959. The full retirement age is 67 for everyone born in 1960 or later. ...

23 comments:

Anonymous said...

Those of us who are Post Boom expect that the Boomers will screw us over further by upping the early retirement age to 65, move Medicare Entitlement to 67 or higher and FRA to 70. I fully expect to not have ANY SSA retirement, just a long line of payroll deductions and broken promises and government lies.

Where did the myth of people living longer means they can work longer come from? Even those with skilled jobs like nurses begin to develop joint and dexterity problems. An office support person or a decision writer develop CTS from continued keyboard work. This doesn't even reflect the reality of a maintenance person, checkout clerk, or laborer. These are just the job duties, how about the whole commuting to the job in all weather conditions?

Thanks Boomers.

Anonymous said...

http://money.cnn.com/2016/11/21/news/economy/kfile-trump-social-security/

Read the "archived document" by Tom Leppert at the bottom of the above CNN report on the above link... That is where SSA is heading.

Anonymous said...

http://www.ontheissues.org/2016/Donald_Trump_Social_Security.htm

Anonymous said...

Well, well, well, let me remind you that the government screwed all of the baby boomers over by raising the full retirement age from 65 to 66. And we didn't like it one damn bit, so there.

Anonymous said...

Boomers even screwed themselves, the most entitled generation EVER! and now they voted to make America great again by taking it back to a time before they screwed it all up. Worst generation in American history!

Anonymous said...

There really is something special about a newspaper reporting as a news event today something that actually occurred in 1983. It was in 1983 that the increase in retirement age was passed.

Anonymous said...

10:39 It was raised under President Clinton. Ronald Reagan's gift was GPO and WEP.

Anonymous said...

@10:39 Nope, changed in 1983. https://socialsecurityinfo.areavoices.com/2013/12/16/when-did-full-retirement-age-change-to-age-66/ Raised to 66 and then later (as in coming up soon) to age 67.

Anonymous said...

Baby Boomers created the financial largess in both productivity and fortune for corporations & government. It is so tiring to hear that baby boomers are spoiled. Quite the contrary, many of them were forced out of their jobs, via layoffs, mergers, acquisitions, outsourcing, with the great loss of in lieu benefits as in retirements changed into 401k's that were lost in the stock market and or workers compensation where injured workers being forced as in millions onto the public funded programs like social security ( off set because of being married, having dependents, and receiving total WC benefits which they did not get). and Medicare that they paid into and still pay into(Medicare) out of the meager SSA benefits. Millions of them receiving SSA benefits that are the most meager, thanks to the SSA with the AFL-CIO's contract in making sure that the injured workers not receive either total disability in comp or SSA benefits or even voc rehab to go back to work because the circumstances created out of workers comp & the SSA made sure injured workers would never go back to work again with no medical care or a way to live.
This is a scandal of epic proportions with the massive fraud and not one legislator has the cahones to address any of this on behalf of the millions of American injured workers who many are the baby boomers. This was our baby boomer retirement "Gold Watch". Being injured ill, and in poverty along with our families or just dead with absolutely no benefits. anyone coming here from another country gets treated very differently while Americans live in the street. It is not just an epic scandal but also an aberration of our American society.

Anonymous said...

1:03 PM, Kudos, you hit the nail on the head. Never will there be another group like the Baby Boomers. The last of the middle class work ethic.

Anonymous said...

There wont be another because the Boomers DISMANTLED the middle class you fool, the Boomers want to take the country back to the time before they ruined the country. Who took away company retirements? Boomers. Who destroyed middle class jobs? Boomers? Who underfunded SSA retirement and Medicare? Boomers. Who has been in charge of the government, companies, banks? Boomers

Who never takes responsibility for destroying everything? Boomers.

Anonymous said...

5:10 poor thing - he sounds like he has mummy daddy issues against his boomer parents. It would be too tiring to educate him. He needs to read more history instead of making emotionally charged accusations about generational demographics.

Anonymous said...

Standard Boomer response, deflect and name call.

Anonymous said...

Cant teach an old dog new tricks or show a Boomer the level of entitlement they have had for years. One thing the Boomers seem to forget is that they are falling out of power for the first time. The Millennials are the coming power, the purchasers, the leaders and those that will be making policy. The Millennials are the economic engine now, as the Boomers retire or expire. Boomer benefits will be in the hands of others for the very first time, they can only hope that they are treated better than they treated future generations.

Anonymous said...

Maybe the worst mistake that some boomers made was to spoil their little brats, thereby rendering them ill prepared for adult life, which might be the situation with the two above self-proclaimed millennials. Buck up boys, you have a long way to go, and if you're bitter and disappointed with life already, then you need to stop blaming your parents and get some therapy.

Fortunately, although some boomer offspring resulted in sour apples like the two above, a lot of boomers did a pretty good job raising their kids, as shown by youth involvement politically in campaigns of Bernie and Obama (another boomer btw) and in social justice movements overall.

Anonymous said...

@9:42

AMEN!

Anonymous said...

See, they just wont admit that they had it better than any other generation and screwed it right in the ground. Deflect and name call, all they can do.

Anonymous said...

http://www.businessinsider.com/how-baby-boomers-became-the-most-selfish-generation-2016-11

Anonymous said...

If business insider says it, it must be true? To quote the most powerful boomer in the world, "Fake news! Sad!"

Anonymous said...

https://www.washingtonpost.com/opinions/2016/10/25/7d0c6a62-9aef-11e6-b3c9-f662adaa0048_story.html?utm_term=.3ddc7bd1c699

Anonymous said...

http://www.nytimes.com/2012/07/30/opinion/keller-the-entitled-generation.html

Anonymous said...

BTW (that means By The Way) Boomer here is another Boomer myth melted away by the light of truth:

http://www.upi.com/Science_News/2016/10/11/Study-Baby-boomers-dont-work-harder-than-younger-generations/6971476211716/

rolekkyle said...

Great read
Rolek Retirement Strategies CFP®