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Originally Posted by MTI
Yes, good news for savers and bad news for those that didn't or couldn't afford, to save for retirement. I also know people that had to cash in their "nest egg" accounts during the recession.
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The worst off are those who lost their jobs in their early 60's and had to go early on SSI. Reduced benefits for life. Sad. The law was changed in 2009 to limit the 'buyback period" to one year. So, anyone who was forced to go at 62 to survive left a lot of money on the table. Their only hope is to get their benefit up through higher earnings. Still, that's not a good place to be in.