1960 Birth Cohort Reaches Social Security Age 67 in 2027 as Full Benefit Rises to $4,188
Updated
Updated · 24/7 Wall St. · Oct 20
1960 Birth Cohort Reaches Social Security Age 67 in 2027 as Full Benefit Rises to $4,188
3 articles · Updated · 24/7 Wall St. · Oct 20
Summary
Americans born in 1960 become the first cohort to hit Social Security’s full retirement age of 67 in 2027, the final step in the phased increase under current law.
The Social Security Administration’s 2027 fact sheet sets the maximum monthly benefit at full retirement age at $4,188 and the average retired-worker benefit at $2,170 after a 3.6% inflation adjustment.
Claiming timing sharply changes lifetime payments: filing at 62 pays 70% of the full benefit, filing at 66 pays about $2,025 on a $2,170 base, and waiting until 70 lifts it to 124%, or about $2,691.
For workers who claim before turning 67, the 2027 earnings limit is $67,920 in the year they reach full retirement age; once the birthday month arrives, the earnings test disappears.
Medicare follows a separate timetable, so people delaying Social Security still need to enroll around age 65 or risk higher coverage costs.