Final answer:
The full retirement age for someone born in 1958 is 66 years and 8 months. This age is when individuals can receive full Social Security benefits based on changes in the program's legislation to ensure its sustainability.
Step-by-step explanation:
The full retirement age for someone born in 1958 is 66 years and 8 months. Full retirement age (FRA) refers to the age at which a person may first become entitled to full or unreduced retirement benefits. Due to changes in Social Security legislation, FRA has been gradually increasing from 65 to 67 years based on an individual's birth year.
For those born in 1958, they reach their full retirement age at 66 and 8 months. If they choose to retire at this age, they will receive the full benefits they are entitled to without reduction.
Although retirement policies are subject to change and future adjustments are possible, as of current law, individuals born in 1958 should plan for a retirement age of 66 and 8 months.
This is in line with the historical changes made to Social Security legislation, which included the gradual increase of retirement age to ensure the financial sustainability of the program. It is also important to note that individuals may claim reduced benefits earlier or delayed benefits later, which would affect the monthly amount received.