"Race, Ethnicity, and Social Security Retirement Age
in the US." Feminist Economics 11, no.
A reasonable compromise between the status quo and this amendment would be to initiate another staggered increase in the Social Security retirement age
. For example, while Americans born between 1950 and 1964 could maintain their current full retirement ages of between 66 and 67, the full retirement ages for Americans born after 1965 could be increased by two to four months each year until the average life expectancy at full retirement age returned to approximately 15 to 16 years.
Extending the Social Security retirement age
to 70 is consistent with the life expectancy, health and education of the majority of workers, Munnell concludes.
Americans are now evenly divided on gradually raising the Social Security retirement age
to 69, with 49 percent in favor and 48 percent opposed.
Some say that an increase in the Social Security retirement age
is equivalent to a benefit cut, and some have narrower concerns about the idea of raising the Social Security retirement age
, such as concerns about the effects on workers in physically demanding jobs, Terry says.
Contributing to the decision were the projected increase of the Social Security retirement age
, low-cost term life rates, investment market fluctuations and low interest rates on other investment vehicles, a press release said.
* It shows how far the Democratic Party has moved rightward that Howard Dean is seen by Katha Pollitt as a liberal alternative to mainstream Democratic candidates, when he insists that the bloated Pentagon budget is off-limits to cuts and that universal health coverage is unrealistic for our country--and when he talks on Meet the Press of raising the Social Security retirement age
and of deploying additional troops to Iraq ["Subject to Debate," Sept.
This is an important observation and offers a simple explanation for the increased incidence of retirements at the early Social Security retirement age
. The evidence presented in Figure 6 suggests that many workers might find it optimal to retire at age 62 given the perception of their lifetime budget constraint.
Equally important, the reduction for benefits that start before Social Security retirement age
has been eliminated for those over 62, providing significant increases in both benefits and deductible contributions for companies with defined benefit plans.
While 65 has been the Social Security retirement age
since 1935, average life expectancy for 65-year-olds has increased from about 13 years in 1935 to 17.5 years today.
If we index the Social Security retirement age
to increases in life expectancy, the normal retirement age today would be 72, not 65.
* an increase in the Social Security retirement age
gradually going to 70 years by the year 2014.