Over the years, you have had deductions for Social Security benefits taken from your paychecks. These deductions have been taken out to fund current Social Security benefits. As discussed above, Social Security is one portion of your retirement income.

The Social Security full retirement age is gradually increasing for people born after 1937. Full retirement age is the age at which you can collect full retirement benefits from Social Security without any reduction for early
retirement (see table below). For example, if you were born in 1960 or later, full Social Security benefits will be payable to you at age 67—not age 65.

Social Security full retirement age is the age at which you can collect full retirement benefits from Social Security without any reduction for early retirement. You will receive an estimate of your Social Security benefits annually from the Social Security Administration.

Social Security replaces a higher percentage of income for retiring participants at lower pay levels. To reach 70% to 80% income replacement levels, a participant needs help from pension benefits and personal savings.

SOCIAL SECURITY FULL RETIREMENT AGE
Year of Birth	Full Retirement Age
1937 or earlier	65
1938	65 + 2 months
1939	65 + 4 months
1940	65 + 6 months
1941	65 + 8 months
1942	65 + 10 months
1943 - 1954	66
1955	66 + 2 months
1956	66 + 4 months
1957	66 + 6 months
1958	66 + 8 months
1959	66 + 10 months
1960 or later	67

Your pension from this Plan is in addition to any benefits you or your spouse may receive from Social Security.