What is the FRA for individuals born between 1943 and 1954?

The Full Retirement Age (FRA) for individuals born between 1943 and 1954 is 66 years. This age is significant because it is the point at which individuals can begin receiving their full Social Security benefits without any reduction for early retirement. The Social Security Administration gradually increased the FRA for those born after 1937, transitioning from age 65 for earlier birth years to age 66 for those born in the stated range. Understanding FRA is crucial for planning retirement and maximizing Social Security benefits, as waiting until reaching FRA will ensure individuals receive the full benefit amount entitled to them without any penalties.