Health Care Reform: Safe Harbor for Determining Full-Time Employee Status. New guidance has been issued on two requirements under the Patient Protection and Affordable Care Act (the Act) that will become effective in 2014.
Early retirement benefits will continue to be available at age 62, but they will be reduced more. When the full-benefit age reaches 67, benefits taken at age 62 will be reduced to 70 percent of the full benefit and benefits first taken at age 65 will be reduced to 86.7 percent of the full benefit.
If you look beyond the average, slightly more Americans are interested in retiring after age 65 than before it. Over a third (37 percent) of workers are planning to retire at age 66 or older, up from 14 percent in 1995, the Gallup poll of 652 working adults and 363 retirees found. Another third (32 percent) of Americans say they are aiming to retire before age 65, down significantly from 49 percent in 1995. About a quarter (24 percent) of workers are hoping to retire at exactly age 65, a proportion that has remained consistent for the past decade.