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Glossary of Social Security
Disability Law Terms
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Legal
Glossaries Index
Representative Payee:
If you receive Social Security benefits or
Supplemental Security Income and become unable to handle your own financial
affairs, a relative, friend, or an interested party is appointed to handle your
Social Security matters.
Retirement Age - Full Benefits:
Full retirement age was 65 for many
years. However, beginning with the year 2000 (for workers and spouses born 1938
or later, or widow and widowers born 1940 or later), the retirement age
increases gradually from age 65 until it reaches age 67 in the year 2022.
Retirement Age - Minimum:
The minimum age for retirement-age 62 for
workers, and age 60 for widows or widowers. You can choose a reduced benefit
anytime before you reach full retirement age.
Retroactive Benefits (Back Pay):
Monthly benefits that you may be
entitled to before the month you actually file an application, if you meet the
entitlement requirements.
Replacement rate:
The amount of pre-retirement earnings that Social
Security benefits replace. A way to gauge the adequacy of retirement income.
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