Wednesday, June 22, 2011

3. 3. Raising the retirement age is a terrible idea and a large benefit cut. If you were claiming benefits as a 66 year-old retired worker and the full retirement age was changed from 66, where it is today, to 69 your benefits would be cut 20 percent. A typical benefit would drop from $14,000 a year to $11,200 a year.

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