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And few of the measure's backers pointed out that the reduction in benefits suffered by people who earned more than the limit was offset by higher benefits starting at age 70.
Others may do better taking their retirement benefits starting at 62 and taking their widow/widowers benefits starting at full retirement age.
Some widows/widowers may do better taking their survivor benefits starting at 60 and their retirement benefits at or after full retirement.
The revised bill also produces a new plan to allow for retirees to ease into pension benefits starting at age 59.
According to Kotlikoff, divorced couples can collect two full spousal benefits starting at age 66 if they get divorced just before age 64 (because they have to be divorced at least two years in order to collect on this benefit) and then remarry at age 70, when each can revert to their own full benefits.
Those taking early retirement — that is collecting benefits prior to their normal retirement age — receive less per month; those in the 1943-54 birth cohort who take benefits starting at the earliest claiming age of 62, or four years earlier than normal retirement at 66, would receive monthly benefits reduced by 25%.
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Dr. Woolf said the group was aware of the data from the Canadian study that failed to find benefits from screening women in their 40's, but that did not change its conclusion that mammography's benefits start at 40.
Social Security benefits start at 62. Mick Jagger will be 70 this year!
Beneficiaries of modest incomes might still be subject to the 50% rate, or to no taxation at all, depending on their overall taxable income, Currently, federal tax on Social Security benefits starts at a total income of more than $25,000 for individuals or $32,000 for married couples.
In other words, it would take me 10 years to receive the same (accumulated/aggregate) amount accruing from a (higher) monthly benefit starting at age 65 than would be the case by starting to accrue a (lower) monthly benefit at age 62.5.
2. If you aren't now collecting and wait until 70 to collect your retirement benefit, your retirement benefit starting at 70 can be as much as 76percentt higher than your age-62 retirement benefit, adjusted for inflation.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com