Overview
- For workers with fewer than 38 years and 3 months of contributions, the full-pension age is now 66 years and 10 months, while those at or above that threshold can retire on 100% at 65; the 15-year minimum contribution rule remains.
- New retirees may be assessed under the existing last 25 years formula or a 29-year window that drops the two weakest months.
- Social Security is computing both calculations automatically and awarding the higher result.
- The 29-year option phases in through 2037 and becomes the sole standard from 2044, yielding 27 effective years after discarding two months.
- Early and delayed pathways remain in place, including voluntary early retirement up to 24 months with at least 35 years contributed, involuntary up to 48 months with at least 33 years and reduction coefficients, and enhanced delay incentives from April 2025 that add 2% from the second year for qualifying deferrals.