America's Social Security programme arrives at its full retirement age of 67 in 2027. That number is significant.
Workers who claim before 67 take a permanent cut to their monthly payments. Those who wait past that age receive more money each month.
There is also a separate rule for people who earned above the annual limit before hitting full retirement age. Once they turn 67, they can recoup any payments that were withheld.
A cost-of-living adjustment expected for 2027 could tip some claimants into a higher tax bracket, which would eat into any gain from that rise.