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Social Security Terminology Overhaul: Clearer Names for Retirement Ages

This bill mandates the Social Security Administration (SSA) to replace confusing retirement age terms with simpler language by January 2025. While the actual rules and benefit amounts remain unchanged, citizens will receive clearer communication regarding when they can claim minimum, standard, or maximum benefits. This aims to improve public understanding of retirement documents.
Key points
The 'early eligibility age' will be renamed the 'minimum benefit age.'
The 'full retirement age' will be replaced by the 'standard benefit age.'
The term 'delayed retirement credit' will be eliminated, replaced by references to the 'maximum benefit age' (age 70).
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Additional Information
A bill to require the Social Security Administration to make changes to the social security terminology used in the rules, regulation, guidance, or other materials of the Administration.
Print number: S 692
Sponsor: Sen. Cassidy, Bill [R-LA]
Process start date: 2023-03-07