At first glance, it might seem to make sense to
increase the retirement age as life expectancy
increases. By almost any criteria, an average
65-year-old individual today is "healthier" than
an average 65-year-old person was in 1935, when
social security was enacted. "A 74-year-old today
has the same life expectancy as a 65-year-old in
1935" (Austad, 2011, p. 10). Yet the issue is more
complicated, and there are several reasons why we
should not increase the FRA.