The Fact
The Social Security Amendments of 1983 gradually raised the age for unreduced retirement benefits from 65 to 67. The change applies fully to workers born after 1959, whose full retirement age is 67.
What This Means
Most Gen X workers are in the first generations for whom age 65 is no longer Social Security's full retirement age. The rule changed while Gen X was young, and the full effect lands directly on their retirement years.
Sources
- Social Security Administration, legislative history of the Social Security Amendments of 1983, P.L. 98-21.