"To address rising longevity, [the authors] propose gradually increasing Social Security's full retirement age past the current age of 67.... [R]ising longevity has not been distributed equally.... A stylized policy would effectively increase the full retirement age by two years for a middle-earning employee and four years for the highest earners while leaving benefits unchanged for low earners. This policy change could ultimately address roughly half of Social Security's annual deficits."  MORE >>