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Social Security’s full retirement age (FRA) is moving to 67 years old. However, it may not stay there. According to this article, the U.S. House of Representatives recently approved a retirement bill. This bill pushes the “age for required minimum distributions on certain savings accounts to 75.”
The article explains that this proposal reflects the current reality — many people today tend to be healthier than previous generations. Because of this, individuals tend to live and work longer — a fact that could cause another change to the FRA.
This article contradicts a previous article that suggested the FRA would not go any higher in the future. Nothing is set in stone yet; but to make sure you stay informed about any changes to Social Security, including the FRA, be sure to follow us on Facebook and Twitter.