Is the Social Security retirement age changing?
Changes are inevitable as they are mandated by Congress. Congress generally intends to consider improvements in the health of older people and increases in life expectancy as reasons for changes in the retirement age and benefits.
Yes. It has already increased from 65 to 66 and will be going to 67. These changes were mandated by Congress in 1983 as part of a law that strengthened Social Security's finances. Congress cited improvements in the health of older people and increases in life expectancy as reasons for raising the retirement age.
Currently (and this is always subject to change), you can start your social security retirement benefits as early as age 62 but the benefit amount you receive will be less than your full retirement benefit amount. Full retirement age is 67 years old for people obtaining age 62 in 2023.
Raising the age further is one of many possible changes to Social Security being discussed in Washington.
The New Mexico Homeowners' Association Act made significant changes for both newly created and existing homeowners' associations and applies to all homeowners' associations in the state.
Before the Act was law, New Mexico homeowners' associations largely were unregulated organizations governed by private contracts. The associations' rules and regulations were set forth in recorded covenants, declarations and deeds, but there were no statutes or state regulations governing them. Therefore, associations could pretty much create their own rules and regulations, which new owners were responsible to learn by reviewing their real estate records. If owners had disputes relating to those rules and regulations, civil lawsuits were their principal remedy.
The two Major Changes include: 1) a disclosure certificate and 2) the Association must record a Notice of Homeowners' Association document with the county clerk.
For a consultation as to the full impact of the changes in the law for your homeowners association and what needs to be done, schedule an appointment with YOUR Taos Attorney by clicking on the contact link above.