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.
What is full retirement age? The current full retirement age is 66 and 2 months for individuals who attain age 62 in 2017. The age when retired people can receive full benefits is increasing gradually to age 67. (The age for Medicare eligibility remains at 65.) See Benefits By Year Of Birth for more information. When youâre ready to apply for retirement benefits, use our online retirement application, the quickest, easiest, and most convenient way to apply.