Social Security Adjustments for early/late Retirement

No actuaries seem to have been involved (somebody call the SOA and the MAAA) in this study which analyzes the “actuarial equivalence” of the adjustments made to early/late Social Security benefits.

Their conclusion - because of the current low interest rate environment and longer life expectancy (especially for higher wage earners) the early benefit claimers should receive a smaller discount and the late benefit claimers should receive a smaller increase.

Andrew Biggs & Alicia Munnell are definitely not actuaries, but they’re not newbies to the retirement scene.

Alicia Munnell:

Andrews Biggs:

I’m not familiar with Anqi Chen.