The time is right to revisit Social Security’s claiming formula

The early retirement penalty is too severe, but the delayed credits are about right - in most cases

The current Social Security claiming formula hasn’t changed much since the early 1980s, and its roots trace back to the 1950s. I was asked during a recent webinar presentation if I thought the system needs adjustment - and it’s a great question. So, I went back to do some research on this topic, which resulted in my latest Morningstar column.

The amount …