How Social Security Rules Help High Earners And Overcharge Low Earners
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It used to be that everyone got Social Security retirement benefits at age 65. Then Congress tinkered with the system, first in 1956, and again in 1983, so retirees could claim benefits at an earlier age or at a later age. Early claimers (as young as age 60) get smaller monthly payouts and late claimers (as old as age 70) get larger monthly payouts. Those payouts are adjusted to be fair for…
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