65 has always been the age to qualify for full Social Security retirement income. Beginning in 2019, the age became 66. You can still take reduced income at 62, but the longtime 25-percent benefit reduction has risen to 27.5 percent.
Q.: I am a 65-year-old retiree. I receive about $80,000 annually (Social Security and NYCERS pension). I have roughly $900,000 in Deferred Comp. I am thinking of annuitizing half of it. What is your opinion? P.A.
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