Which of the following statements about the full retirement age under the Social Security program is true?

Question

Quizplus · Accepted Answer

The full retirement age is the age at which a person can receive full retirement benefits from Social Security, based on their lifetime earnings. As of 2021, the full retirement age ranges from 66 to 67, depending on the year a person was born. Delayed retirement, meaning continuing to work past the full retirement age, can increase the monthly benefit amount. Choosing to retire early, as early as age 62, will result in a reduced monthly benefit payment. Option B is incorrect because the retirement age is not increasing to 75, and option C is incorrect because early retirement with reduced benefits is allowed as early as age 62, not 55.

Which of the Following Statements About the Full Retirement Age