Social Security retirement benefits
As you plan for retirement, it’s important to evaluate your Social Security options. If you retire before what’s considered full retirement age, your monthly benefits will be reduced. Use the table below to find your full retirement age.
| Year of birth* | Full retirement age |
|---|---|
| 1937 or earlier | 65 |
| 1938 | 65 and 2 months |
| 1939 | 65 and 4 months |
| 1940 | 65 and 6 months |
| 1941 | 65 and 8 months |
| 1942 | 65 and 10 months |
| 1943-1954 | 66 |
| 1955 | 66 and 2 months |
| 1956 | 66 and 4 months |
| 1957 | 66 and 6 months |
| 1958 | 66 and 8 months |
| 1959 | 66 and 10 months |
| 1960 and later | 67 |
* If your birthday is on January 1, use the full retirement age for the previous year.
Additional information:
- The 2009 maximum benefit is $27,876 per person per year.
If you return to work after you’ve started claiming Social Security benefits and you haven’t reached full retirement age, those payments may be reduced. See the table below.
If you’re under your full retirement age in 2009… Your payments will be reduced $1 for every $2 you make over $14,160. If you will reach your full retirement age in 2009… Your payments will be reduced $1 for every $3 you make over $37,680 until the month you reach full retirement age. You can then work without any reduction in your benefits, no matter how much you earn.
For more details about your benefits (including a tool that helps you estimate what your benefits might be), visit the Social Security website.
Return to topInvestors should carefully consider the investment objectives, risks, charges and expenses of the American Funds. This and other important information is contained in each fund’s prospectus and/or summary prospectus, which can be obtained from your plan’s financial professional or downloaded and should be read carefully before investing.