Health Care Reform: Safe Harbor for Determining Full-Time Employee Status. New guidance has been issued on two requirements under the Patient Protection and Affordable Care Act (the Act) that will become effective in 2014.
Early retirement benefits will continue to be available at age 62, but they will be reduced more. When the full-benefit age reaches 67, benefits taken at age 62 will be reduced to 70 percent of the full benefit and benefits first taken at age 65 will be reduced to 86.7 percent of the full benefit.
Also, beware, for upcoming retirees full retirement age for your Social Security benefits is NOT 65 - it is age 66 or later. For most of you this means even if you retire at 65, you'll be best off waiting a year or so before beginning your Social Security benefits.