Social Security Retirement (SSRI) is a federal program that provides a continuous monthly income for covered beneficiaries who have at least reached age 62.

To be covered: you, a spouse, ex-spouse, a parent or someone on whom you are dependent, must be "fully insured" which means you must have made the appropriate number of payments into the Social Security System. Payments are made through F.I.C.A. payroll taxes. Payments become credits. Social Security looks at the number of credits to determine is you are fully insured.

The amount of the benefit to which you are entitled varies depending on whether you take Early Retirement, Full Retirement or Delayed Retirement.

Regardless of your full retirement age, you are still eligible for Medicare at age 65. [To learn more, see Medicare.]

If you're considering early retirement for health reasons, also see Social Security Disability Income (SSDI) and Supplemental Security Income (SSI).

NOTE: If you're getting ready to apply for SSRI: If you haven't the yearly maximum of four credits this year, it is possible to earn them in a short period of time. Social Security can tell you if it is worth waiting to apply for SSRI until after you've earned the full four credits, even if you are fully insured. Waiting for the additional credits could increase the amount of your retirement benefit if your wages are at least as high as your reported wages from past years. You can call: 800.772.1213.

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