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3: Analyze Your Decisions

What is Your Full Retirement Age (FRA)?

Unless you work until what the Social Security Administration calls Full Retirement Age (FRA), you will not be eligible to receive 100 percent payment of your Social Security benefits. This means that even though you may be eligible to begin receiving benefits at age 62, if you can wait longer, your monthly payments will increase significantly.

Your FRA* depends on the year you were born, as shown in this chart:

full retirement age table

* Note that the government has been increasing the FRA; therefore it is based on your birth year.

What is Your FRA and FRA Year?

light bulbIf you plan on taking your full retirement benefits from the Social Security Administration, it is helpful to know your full retirement age (FRA) and the year you will reach this age to take full benefits. Use the chart above to help you complete these sentences:

  1. My full retirement age (FRA) is: (enter an age from the chart above)

  2. My current age is: (enter your current age)

  3. I will reach my FRA in years (subtract your age in Line 2 from your FRA in Line 1 )

  4. The year I can claim full Social Security benefits is: (add the years from Line 3 to this year)

You can also use the Retirement Age Calculator from the Social Security Administration.

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