Social Security: How to determine FRA and who's going to feel the brunt of the increased FRA in 2026?

Social Security reaches a historic turning point in 2026 as the Full Retirement Age (FRA) hits 67 for the first time. This 1983 mandate now applies to everyone born in 1960 or later. With the 2026 COLA set at 2.8% and the taxable wage base rising to $184,500, millions of Americans face a steeper climb to full benefits. Choosing the wrong claiming age now carries a permanent 30% penalty.