Chad finds that he meets the eligibility requirements for Social Security. He elects to receive retirement benefits at 62. Which statement is true?

Question

Quizplus · Accepted Answer

Electing to receive retirement benefits at 62 means Chad will receive benefits at a permanently reduced level. The full retirement age for Social Security benefits is typically between 66 and 67, depending on the year of birth. By electing to receive benefits at 62, Chad is choosing to receive benefits before reaching full retirement age, resulting in a reduction of his benefits.

Chad Finds That He Meets the Eligibility Requirements for Social