Rosie the Riveter Raves About Delayed Retirement Credits

??????Rosie the Riveter?????? is a uniquely American icon who came to represent women working in factories in the U. S. during World War II. These women produced the munitions and war supplies that helped keep the war effort running while many men were serving in the military. Rosie climbed the charts of national popularity. She was even on the cover of the Saturday Evening Post on Memorial Day, May 29, 1943 making her a certified symbol of the war effort.

The term ??????Rosie the Riveter?????? was first coined in 1942 which would have made Rosie age 70 in 2012. If Rosie had filed for Social Security retirement benefits at age 70 in 2012, she might have used her rivet gun to hammer out the value of delayed retirement benefits.

She????????d tell you that your Social Security benefit amount is affected by the age at which you decide to
retire. If you retire at age 62, (the earliest possible retirement age for Social Security), your benefit will be lower than if you wait until later to retire. You can receive an unreduced benefit by waiting to start until you reach your full retirement age. Those born in 1944 or earlier are already eligible for their full retirement benefits. For those born between 1943 and 1960, the full retirement age gradually increases to age 67. See our chart at ??????Age To Receive Full Social Security Benefits?????? at www.socialsecurity.gov/retire2/retirechart.htm near the bottom of the page.

If you decide to start benefits after your full retirement age, you can increase your monthly benefit amount. Your benefit amount will automatically increase by a certain percentage until you start receiving benefits or you reach age 70. The percentage varies based on your date of birth. In Rose????????s case (??????born?????? in 1942), her benefit would have increased 7.5% per year for each year she delayed signing up for Social Security beyond her full retirement age. You can use our calculator to see how delaying benefits can affect your benefit amount at www.socialsecurity.gov/retire2/delayret.htm. The increase stops when a person reaches age 70, even if they continue to delay taking benefits.

March is Women????????s History Month. This is a good month for women to familiarize themselves with what Social Security means to them in their particular circumstances. ??????Rosie the Riveter?????? became a national icon because she represented that hardworking ??????can do?????? spirit. That same spirit still lives on today and explains why people may choose to delay their retirement benefits. To
decide what????????s best for you and your retirement planning, go to www.socialsecurity.gov to research, apply or sign up for Medicare at age 65.


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