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.
Most Americans now expect to retire at age 65 or later. [See The 10 Best Places to Retire in 2012 .]. It's just not possible for people to work for 30 or 40 years and support themselves on their assets for another 20 or 30 years, says Alicia Munnell, director of the Center for Retirement Research at Boston College.