Key Retirement Age Milestones

Age 59.5

You can now withdraw money from your 403(b)-retirement account without the imposed 10% tax penalty.

Hold on, if you don’t need it, leave it, and continue to save until you retire.

Age 62

You may now start claiming your Social Security at 62. Although, starting early could lead to a 25% reduction in your lifetime benefit. Keep in mind that, as it stands today, benefits will increase about 8% for every year you wait. 

Age 65

You are now eligible for Medicare. Be proactive and sign up three months before your 65th birthday. Don't wait, or you could get hit with higher medical cost.

Also, you have reached “Normal” retirement age and you can start your Howard University pension; if eligible.

Age 66/67

Congratulations—You are now full retirement age for Social Security! You can claim your benefit and continue working.

Born before 1959 - You qualify at 66 and two months. *

Born in 1959 - you qualify at 66 and ten months. *

Born any later - You must wait for age 67.*

Age 70

No need to wait any longer. If you haven’t already, it is time to claim your Social Security benefit.  Your benefit has maxed out and there is no more growth. *

Age 70.5

You have until next April 1 to take your first Required Minimum Distribution (RMD) from your 403(b) & 457, whether you need it or not.

If you didn’t claim your Howard University pension at age 65 you need to file now!

*Please refer to to verify dates of eligibility for Social Security benefits.

***Please refer to to verify dates of eligibility for Medicare.