Friday, December 28, 2007

MetLife Reports on Profile of Boomers Turning 62 in 2008

As the first Americans of the baby boom generation turn 62 and thus become eligible for early Social Security benefits, MetLife has released a report profiling these boomers, including their finances, retirement plans, and more. According to the survey report--"Boomers Ready to Launch", 31% plan to apply for Social Security when they turn 62, and 32% say they will wait until age 66 or beyond when they can receive full benefits.

In addition, 68% say they have employee or retiree health insurance. Forty-seven percent are covered by a defined benefit plan, 50% have a 401K, 50% have an IRA.

Source: MetLife Mature Market Institute News Release (December 27, 2007)

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