Senators Consider Boosting Retirement Age

[jojo54]

Sorry if dupe. Mods, delete if necessary. This came from the Comcast front page, but I'm sure there's another link somewhere.

http://www.comcast.net/news/index.jsp?cat=GENERAL&fn=/2005/06/15/156529.html

Still another way to screw the middle class. If we don't get this administration out of power soon, we're going to end up NOT being able to retire with benefits at all! We're going to have to work till the day we drop dead, while the all of them in office get to go golfing at an early age.

[Kolesar]

1. that article is not even correct

It is lame in that it does not state what the proposed retirement schedule is. There is an error that says the retirement age will be 67. I will have to wait until I am 68 to retire under the plan adopted decades ago.

AP needs some technical editors.

[jojo54]

2. They do have errors in the report

but the concept is there and the only way we'll get the correct information before it's too late, is logging on to DU, Raw Story, Onion etc.

[Kolesar]

3. well, I wrote to AP

Hi,

In David Espo's article, he reported that the retirement age will be raised to 67. The correct number is 68. The retirement age is raised by 3 months for every year that someone is born after 1948. Therefore, those retiring 12 years later will have their retirement age raised by (12 x 3mos/12yrs) => 3 years later. Add 3 years to the current retirement age and you get age 68.

I was born in 1960 and have been aware of this since they reset the retirement age decades ago.

Yours is not the first article where I have seen this mistake.

Further, I wish you had said what the republicans were proposing for an extended retirement age. What will be the new age requirement? Will it only affect those born after 1960?

Best Regards,

Walter Mondale

[spooky3]

4. Here is what Social Sec. Admin. says about retirement ages:

http://www.ssa.gov/retirechartred.htm

It appears that the extension is 2 months per year after a certain time, rather than 3. But maybe I'm just misunderstanding this.

[Kolesar]

5. I stand corrected

Thanks for looking that up.

[spooky3]

6. Happy to help--and it's good news too!