Is the Social Security System going to go broke before you have a chance to benefit from all those years of paying into it? Well, no one knows for sure, but millions of tax-paying voters in our country will want to make sure our politicians adopt measures to protect this system.

There's no question that, with the baby-boomer generation beginning to hit retirement age, the Social Security System may require overhauling. There has been much commotion in recent years about Social Security reform. There are several legislative changes currently being phased in, and there are other ideas being advocated by several politicians. Some of the changes currently being phased in include:

So, how do you get Social Security benefits? Currently Social Security benefits are based on the total number of quarters you have earned wages. This refers to calendar quarters, so you can earn up to four quarters each year you work. You must work for at least 10 years and earn 40 quarters to be eligible for Social Security benefits. The minimum dollar amount you earn for each quarter is indexed to inflation each year. This means you must earn a minimum amount of money during a given quarter for it to count toward meeting the overall requirement of 40 quarters. For example, in 1998, if you earned at least $700 each quarter, you would be credited for four quarters for that year.

Today, you are eligible for full benefits at age 65; however, you may begin collecting Social Security at age 62. Be forewarned that your benefits will be reduced if you do. If you were born in the 1950's, you won't be eligible for full benefits until age 66, and if you were born in 1960 or later, you'll be working until you are 67 to be eligible for 100% of your Social Security benefits.

The Social Security Administration will estimate how much your benefit will be if you complete a Request for Earnings and Benefit Estimate Statement. This standard form is referred to as Form SSA-7004-PC. You can request your personalized estimate by either calling toll-free at 1-800-772-1213; writing to the Social Security Administration at 8515-A Liberty Road, Randalstown, MD 21133; or by visiting them online at www.ssa.gov. Keep in mind these are estimates only, since your benefits are indexed against the cost of living each year, and may be imprecise if you are less than 60 years of age.

You should verify that all of your quarters worked are credited properly by periodically requesting a benefit estimate. You can do this every few years to ensure that your employer(s) are reporting all your earnings and that the Administration has credited your wages to the correct Social Security Number. If you determine there is a discrepancy between your records and the Administration's, send them a letter along with a copy of your W-2 for the year(s) in question to get your records corrected. You want to make sure you get credit for every penny you deserve.

The U.S. Treasury funds an additional retirement program that is handled by the Social Security Administration. This additional benefit is available to U.S. citizens with very low incomes and minimal assets. If you are over the age of 65, blind or disabled, you may qualify for SSI. The benefit amount depends upon where you live and your total earnings. You can contact the Social Security Administration to obtain the specific rules for qualification and benefit levels for the state in which you live.

If you become disabled, either mentally or physically, and cannot work for at least a year, or you develop a terminal condition, you might be eligible to receive a monthly disability benefit from Social Security.

If you've read some of our other articles on retirement, you know that Social Security benefits are a critical supplement to your other retirement income. Even if major changes to the system are adopted, most of us will rely on Social Security as a significant part of our retirement income. So, keep an eye on it and stay abreast of legislative changes, because your comfort in retirement may depend on what happens.