As of January 1, the Social Security Administration began phasing in an increase in the age at which retirees can receive full benefits, from 65 to 67. Congress passed a law in 1983 mandating these changes begin taking effect in January, 2000.

Industry observers believe the delay in full Social Security benefits will be yet another wake-up call to Americans to begin taking responsibility for their retirement savings, and could result in marginal net new asset inflows to the mutual fund industry.

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