Social Security Retirement Benefits
A program administered by the Social Security Administration that provides monthly cash payments (sometimes called old-age insurance benefits) for people age sixty-two and older who are fully insured. Workers may retire at age sixty-two and receive a reduced benefit or may wait until age sixty-five and receive a full benefit. Benefit amounts depend upon wages earned and the number of quarters of coverage credited to the individual's Social Security record.
Taxonomy Code: NS-700.800