This study uses the AHEAD survey to examine the effects of increasing the Social Security retirement age in the United States by modeling the labor force participation decisions of men and women over the age of 65. Separate probit analyses by gender with interaction terms indicate that race/ethnicity is only marginally important in these decisions after controlling for key factors such as health, physical and mental disabilities, education, and nonlabor income. However, detailed examination reveals highly significant differences by race and ethnicity in all of these critical factors, as well as in the distribution of previous occupations. Although elderly blacks and Hispanics have greater financial need than whites, they have significantly less ability to continue working for pay. Thus, seemingly race- and ethnicity-neutral policies such as increasing the full Social Security retirement age may have disproportionate negative effects on elderly members of minority groups in the US.