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Under current law SS retirement age is already scheduled to rise to 67

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Kurt_and_Hunter Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 09:20 AM
Original message
Under current law SS retirement age is already scheduled to rise to 67
Edited on Thu Aug-26-10 09:33 AM by Kurt_and_Hunter
That is the status quo they wish to make worse.

Those who say we ought to raise the retirement age... WE ALREADY DID!

________

Added some data on edit:

2003 = 65
2009 = 66
2023 = 66.5
2027 = 67

For those in the 67 retirement age cohort (born 1960 and later), you can still retire at 65... if you want to give up 13.3% of the benefits.

http://www.ssa.gov/pubs/retirechart.htm
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jdlh8894 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 09:21 AM
Response to Original message
1. Linky , please? n/t
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SOS Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 09:24 AM
Response to Reply #1
2. If you born in 1960 or later, it's 67
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Kurt_and_Hunter Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 09:25 AM
Response to Reply #1
4. For those of us born 1960 and later the retirement age will be 67 (link)
The law is set up so that the retirement age creeps up with each new class of retirees.

http://www.ssa.gov/pubs/retirechart.htm
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hfojvt Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 10:50 AM
Response to Reply #4
20. I was born in 1962
my understanding is that I can collect benefits at age 62 and to me that makes financial sense, even though the benefits are about $200 a month less.

As for the retirement age, well, I already partially retired in 2006 when I went from full time work to part time work. At least there is some benefit to being childless and single.
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FloriTexan Donating Member (481 posts) Send PM | Profile | Ignore Thu Aug-26-10 09:29 AM
Response to Reply #1
5. oops
Edited on Thu Aug-26-10 09:31 AM by FloriTexan
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mike r Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 09:25 AM
Response to Original message
3. Yep, full retirement age is now 67 for anyone born in 1960 or later
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FloriTexan Donating Member (481 posts) Send PM | Profile | Ignore Thu Aug-26-10 09:31 AM
Response to Original message
6. Oh well...
Edited on Thu Aug-26-10 09:33 AM by FloriTexan
I probably won't be able to afford to retire anyway. I will probably get laid off first.
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Skink Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 09:32 AM
Response to Original message
7. we should lower it....
along with the age for medicare enrollment. With today's job picture it only makes sense.
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glitch Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 09:32 AM
Response to Original message
8. That was the adjustment they made to accommodate the bulge of boomers.
the adjustment now is to keep from having to pay back the 'IOUs' borrowed from the fund by Reagan/Bushes/Cheney.
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Sherman A1 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 09:36 AM
Response to Original message
9. Yes,
which still constitutes changing the rules in the middle of the game for those already in the workforce and planning their retirements.

I believe it to be completely absurd.
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dkf Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 09:38 AM
Response to Original message
10. Basically you can't retire unless you have a great employer or saved a LOT on your own.
Edited on Thu Aug-26-10 09:40 AM by dkf
Most will work until they are disabled or dead.

That is why consumers have stopped spending. It is more important than ever to save for retirement.
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Kurt_and_Hunter Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 09:39 AM
Response to Reply #10
11. Be considerate to others. Please dig your own grave on the way out...
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dkf Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 09:48 AM
Response to Reply #11
14. Ever since high school I was taught that social security probably wouldn't be there for people my ag...
The key to surviving will be a paid up home and good health. if you don't have that it will be difficult.

This is how I do my own planning...plan for the worst, hope for the best. Then if I get social security it is gravy.
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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 09:44 AM
Response to Original message
12. It's horrifying what we are doing to The People. Nt
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ixion Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 09:46 AM
Response to Original message
13. it needs to go down, not up
and I really wish that one could opt-out.
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Kurt_and_Hunter Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 10:27 AM
Response to Original message
15. ...
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Kurt_and_Hunter Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 12:08 PM
Response to Reply #15
22. ...
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harun Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 10:29 AM
Response to Original message
16. Dem's need to lower it.
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Mimosa Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 10:38 AM
Response to Original message
17. Here's a link
The politicians had already made age related percentage cuts:

http://www.drdaveanddee.com/socialsecurity.html
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izzybeans Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 10:39 AM
Response to Original message
18. The Social Security website is plan as day about that fact.
Everyone should read through it.

http://www.ssa.gov /

You can estimate your own benefits with your own Social Security data through the web there as well.

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NNN0LHI Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 10:46 AM
Response to Original message
19. Anyone who doesn't have a Defined benefit pension plan is likely going to die before they retire
Edited on Thu Aug-26-10 10:50 AM by NNN0LHI
My advice is for workers to become unionized. And support other union workers too. Because when someone else is forced to take a pay cut chances are you will be taking a pay cut yourself down the line. Thats the way it works.

Don
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CBGLuthier Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 10:52 AM
Response to Original message
21. Yes, being born in '61 I call that the Fuck Me rule.
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