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When to Retire

The U.S. Social Security Administration (SSA) recently unveiled a new online retirement calculator designed to help people plan for retirement . Unlike other retirement estimators that require the user to insert yearly earnings information into a calculator, the SSA’s Retirement Estimator automatically pulls information from a person’s actual Social Security earnings record.

The personalized Retirement Estimator allows the user to compare different retirement options based on differing retirement dates or earnings scenarios. This fall, the agency plans to release a new online retirement application for Social Security benefits that will reduce the average filing time for individuals from about 45 minutes to 15 minutes.

SSA's new calculator can be accessed at:
http://www.socialsecurity.gov/estimator/
Source: SHRM Online

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