Possible Changes to Retirement Age
Proposed changes to Social Security would raise the retirement age to 69. In addition, there would be changes to Social Security benefits calculations and cost-of-living formulas.
Accounting Today reports, “The bill would also eliminate the Retirement Earnings Test for everyone to enable workers to receive benefits without a penalty while they are working, or fully delay retirement and wait to receive benefits. For those who delay claiming benefits, they can receive increases in a partial lump sum or add it all to their monthly check.”
This legislation was introduced by the chairman of the House Ways and Means Social Security Subcommittee, Rep. Sam Johnson, R-Texas.
To read more, see the full article from Accounting Today.