I Sorta See Your Point But I Don’t Think It’s Much Of A Problem And I Don’t See How This Helps

      From a summary of a bill reported out of the House Ways and Means Committee:

Studies show that people are confused by the current SSA terms and are generally uninformed about how their claiming decisions affect their monthly benefits.

• As a result, many of today’s seniors are missing out on substantial retirement income because of suboptimal claiming decisions.

The Claiming Age Clarity Act:

Directs the Social Security Commissioner to change the terminology SSA uses when describing benefit claiming ages to better reflect the implications of claiming decisions:

FRA [Full Retirement Age] would be referred to as the “standard monthly benefit age.” 

“Early eligibility age” would be referred to as the “minimum monthly benefit age” 

 Any reference to age 70 as the maximum age up to which delayed retirement credits can be accrued would be referred to as the “maximum monthly benefit age.”