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The age for collecting full Social Security retirement benefits will gradually increase from 65 to 67 over a 22-year period beginning in 2000 for those retiring at 62. The earliest a person can start receiving reduced Social Security retirement benefits will remain age 62.
The law raised the full retirement age beginning with people born in 1938 or later. The retirement age gradually increases by a few months for every birth year, until it docHubes 67 for people born in 1960 and later.
The full retirement age is 66 if you were born from 1943 to 1954. The full retirement age increases gradually if you were born from 1955 to 1960 until it docHubes 67. For anyone born 1960 or later, full retirement benefits are payable at age 67. The chart below lists the full retirement age by year of birth.
You qualify for a monthly retirement benefit if you are: 65 with 4 years of service. 62 with 10 years of service. 60 with 20 years of service. Any age with 35 years of service.
You can start receiving your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits when you docHub your full retirement age. If you delay taking your benefits from your full retirement age up to age 70, your benefit amount will increase.
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As a new URS member, you have a choice between two retirement options: Hybrid Option | pension and possible employer 401(k) contribution. 401(k) Option | employer 401(k) contribution.
If you have questions, call 801-366-7700 or 800-365-8772. ROLL OVER OLD ACCOUNTS TO URS Have old accounts from previous employers?
At its September meeting, the Board unanimously voted to approve a 2.5% cost-of-living adjustment (COLA) increase for eligible retirees and beneficiaries in 2023.
The average annual benefit is $17,894 per year, or $1,491 per month.
A cost of living adjustment (COLA) is a change in ones monthly retirement benefit to account for increasing prices. COLAs help to ensure that your purchasing power remains the same no matter how long you may live, and how quickly prices might rise.

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