Do you ever get confused by the alphabet soup of Social Security acronyms? If you take your retirement benefit at FRA, you’ll receive the full PIA. If you delay, you’ll get DRCs. Once you receive benefits, most years you’ll get a COLA. Check out the SSA’s glossary.
Social Security is an important topic for you and your clients. But the lingo can sometimes be difficult to pick up. Make sure that everyone is on the same page and knows what you are talking about. There are a lot of technical terms and acronyms that can easily muddle a conversation and lead to critical errors. Luckily, there is an online glossary from the Social Security Administration. Learn more here.