New Social Security bill would lower retirement age to 60 for some workers

Rep. Haley Stevens, D-Mich., on Wednesday introduced a new bill that would lower Social Security 's full retirement age for workers in physically demanding jobs. The bill, called the Blue Collar Social Security Fairness Act , would make it so eligible individuals would be able to claim full Social Security retirement benefits starting at age 60. Currently, the earliest Social Security retirement age is 62, though beneficiaries receive reduced monthly checks for starting that soon. By waiting until full retirement age — that's 67 for individuals born in 1960 or later — they may receive 100% of the benefits they've earned. For each year an individual delays beyond full retirement age up to age 70, they stand to get an 8% benefit boost.