When does an individual become eligible for retirement benefits?
Generally speaking, for an individual worker to be become eligible for retirement benefits, that worker must meet certain minimum age and minimum work requirements.
1. Minimum Age Requirement
To collect a retirement check, a worker must attain the minimum age of 62. The earliest month of eligibility is the first full month of being age 62.
2. Minimum Work Requirement
To pass the minimum work requirement, a worker must have accumulated 40 quarters of tax payments.
For the tax year 2010, a quarter of credit is earned for each $1,120 of FICA income, to a maximum of four credits for the year (or minimum earnings of $4,480).