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.
The full retirement age for people retiring now (including baby boomers who were born between 1943 and 1954) is age 66. The full Social Security retirement age will gradually increase for people born after 1954 until it reaches age 67 (for people born in 1960 or later).owever, people can choose to collect benefits as early as age 62, as late as age 70, or anywhere in between. If you choose early retirement, you can collect benefits as early as age 62, but your benefits will be reduced for each month that you collect them before you reach the full Social Security retirement age.