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The Online Advisor - August 1999
Retirement study reveals confusion about social security
A recently released Retirement Confidence Survey shows that people are confused about social security benefits.
42% of people surveyed expect to be eligible for social security sooner than they actually will be. A large majority still think full benefits will be available at age 65, but the fact is that starting next year, eligibility for full benefits will gradually move from 65 to 67.
The Social Security Administration hopes to clear up the confusion by mailing out statements of estimated benefits every year to all workers age 25 and older.
More information on the survey results is available at www.asec.org.