This Handbook provides an overview of federal laws affecting the elderly and retirement issues. Information discussed includes age discrimination in employment, elder abuse & exploitation, power of attorney & guardianship, Social Security and other retirement and pension plans, Medicare, and much more in 22 pages of materials.
Retirement For Elderly In Texas
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US-001HB
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The full retirement age is 66 if you were born from 1943 to 1954. The full retirement age increases gradually if you were born from 1955 to 1960 until it reaches 67. For anyone born 1960 or later, full retirement benefits are payable at age 67. The chart on the next page lists the full retirement age by year of birth.
You can receive Social Security retirement benefits as early as age 62. However, we'll reduce your benefit if you start receiving benefits before your full retirement age. For example, if you turn age 62 in 2025, your benefit would be about 30% lower than it would be at your full retirement age of 67.
How Your Social Security Benefit Is Reduced If you start getting benefits at age And you are the: Wage Earner, the Retirement Benefit you will receive is reduced to 66 + 11 months 99.4 67 100.0 If your birthday is on the 1st of the month, we figure your benefit as if your birthday were in the previous month.59 more rows
Currently, the full benefit age is 66 years and 2 months for people born in 1955, and it will gradually rise to 67 for those born in 1960 or later. Early retirement benefits will continue to be available at age 62, but they will be reduced more.
What Other Programs Can Help Me? Medicaid and CHIP. Medical Transportation Program. Medicare. Social Security. Supplemental Security Income (SSI) Texas No Wrong Door. Texas Simplified Application Project.
Normal Age Retirement Age 65 with five or more years of service credit, or. Any combination of age and service totaling 80 with at least five years of service credit.
A copy of your birth certificate. A copy of your Social Security card A picture ID; driver's license preferred. A copy of your spouse's birth certificate. A copy of marriage License of divorce decree (if applicable).
Common income documents for retirees include: Forms 1099-INT for interest income. Forms 1099-DIV for dividends and distributions. Forms 1099-R for distributions from pensions, annuities, IRAs, and retirement or profit-sharing plans. Forms W-2 from part-time employment.
Documents we may ask for include: Your Social Security card or a record of your number. Your original birth certificate, a copy certified by the issuing agency, or other proof of your age. We must see the original document(s), or copies certified by the agency that issued them.
The retirement benefits application process follows these general steps, whether you apply online, by phone, or in person: Gather the information and documents you need to apply. Complete and submit your application. We review your application and contact you if we need more information. We mail you a decision letter.