Senator Hagel Proposes Raising Retirement Age

In a speech at the University of Nebraska-Lincoln on Social Security Reform, Senator Chuck Hagel (R-NE) proposed raising the retirement age from 67 to 68. Furthermore, his proposal would "maintain the current early retirement age at 62, but would adjust benefits for those who choose to retire early" so that workers who retire early would receive 63% of the traditional benefit, rather than the current 70%.

Source: Hagel Speech Detailing Social Security Reform Plan Senator Chuck Hagel (March 7, 2005)