normal retirement age

normal retirement age definition - business

normal retirement age

The youngest age at which a person can retire and draw a pension without a reduction in benefits. The normal retirement age for many plans is 65 years of age. The normal retirement age for Social Security benefits is scheduled to gradually increase to age 67 in 2027.

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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