full retirement age

full retirement age definition - business

full retirement age

The age at which a person can retire and draw full benefits under Social Security. The age for full retirement benefits is scheduled to gradually increase to 67 for individuals born in 1960 and after. Individuals born prior to 1960 will earn full retirement benefits at a slightly younger age than 67.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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