Normal Retirement Age - NRA
Barron's Business Dictionary:
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Normal Retirement Age - NRA
Earliest age at which an employee can retire without a penalty reduction in pension benefits after having (1) reached a minimum age and (2) served a minimum number of years with an employer. Historically, this has been 65 years, but many private pension plans now envision earlier or later normal retirement ages.
See also multiple retirement ages.
See also multiple retirement ages.
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Investopedia Financial Dictionary:
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Normal Retirement Age - NRA
The age at which people can receive full benefits upon leaving the work force. In the United States, for example, the normal retirement age for receiving full social security benefits is 67 years of age for persons born in 1960 or later. Birth years prior to 1960 have various normal retirement age requirements. Retirement prior to the normal retirement age reduces benefits, and retirement after the NRA increases benefits.
Investopedia Says:
Normal retirement age also applies to pension plans such as employer sponsored plans. The Internal Revenue Service (IRS) identifies normal retirement age for minimum vesting purposes as the earlier of the normal retirement age as specified under the plan, or the later of age 65 or the fifth anniversary of the beginning of plan participation. Normal retirement age throughout the world typically falls between 60 and 67 years old. Public servants, police officers and military members, for example, typically receive full benefits after a certain number of service years, rather than a specific age.
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Learn some sensible strategies for making your hard-earned savings last for as long as you need them. Managing Income During Retirement
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Realizing your post-work goals need not be daunting. We'll tell you everything you need to know to get - and stay - on track. Retirement Planning: How Much Will I Need?
Learn about eligibility requirements, contributions to and distributions from the plans that are established by an employer to provide retirement benefits for employees and their beneficiaries. 401(k) And Qualified Plans: Eligibility Requirements
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