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WHAT IS "FULL RETIREMENT AGE" (FRA)?

WHAT IS "FULL RETIREMENT AGE"?

By Charles W. Forsythe, The Forsythe Firm, Huntsville, AL 

    When dealing with Social Security matters, you hear the term "Full Retirement Age" (FRA) kicked around a lot.

But what is Full Retirement Age?

Under Social Security regulations, FRA is the age at which you can receive a full old age pension (retirement benefit).  It is also the age at which you can work while receiving Social Security and earn as much as you want with no Social Security penalty.

Your FRA depends on your birthday.  The following chart gives Full Retirement Age based on when you were born.  This is what Social Security uses.

YR. OF BIRTH / YOUR FRA

1938 – 65 years and 2 months

·  1939 – 65 years and 4 months

·  1940 – 65 years and 6 months

·  1941 – 65 years and 8 months

·  1942 – 65 years and 10 months

·  1943 through 1954 – 66 years

·  1955 – 66 years and 2 months

·  1956 – 66 years and 4 months

·  1957 – 66 years and 6 months

·  1958 – 66 years and 8 months

1959 – 66 years and 10 month

1960 -  67 years

   These are the current Full Retirement Age definitions based on current law.  Social Security can change the FRA in the future.  As you can see from the above chart, it has done so in the past.

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