Social Security

Social Security is an important source of retirement income for many people. Understanding Social Security will help you be better prepared for your financial future.

How It Works

  • Workers and employers both pay taxes to fund benefits for future retirees. The current tax rate is 6.2% for the employer and 6.2% for the employee.
  • These tax deductions appear on your pay statement as OASDI, which stands for Old-Age, Survivors and Disability Insurance program.

Social Security Snapshot 

Who is eligible?

When you work and pay Social Security taxes, you earn “credits” toward Social Security benefits. The number of credits you need to qualify for retirement benefits depends on when you were born. If you were born in 1929 or later, you need 40 credits (10 years of work).

What are the benefits?

  • Full Social Security retirement benefits can begin as soon as you reach your “full retirement age,” which depends on your year of birth.

Age to receive full Social Security benefits

Year of birth

Full retirement age




66 and 2 months


66 and 4 months


66 and 6 months


66 and 8 months


66 and 10 months

1960 and later


NOTE: People born on January 1 of any year, refer to the previous year.

  • Early Social Security retirement benefits can begin as early as age 62, but the monthly benefit will be reduced. The earlier payments begin, the greater the reduction.
  • Delayed retirement is when you choose to keep working beyond for your full retirement age. In that case, your monthly benefit amount can increase.

What to do

Create a My Social Security Account

Creating a free, secure account gives you the control to:

  • Check your Social Security statement
  • Change your address
  • Verify your reported earnings
  • Estimate your future benefits
  • Use personalized tools
  • Request a replacement Social Security card
  • Manage benefits you already receive

Apply for Social Security Retirement Benefits

When it’s time, you can apply for retirement benefits:

In person by appointment with a local Social Security office


When Coverage Ends

If You and Your Spouse or Domestic Partner Are Both Grainger Team Members


Special Savings Offers


Profit Savings Plan

Retirement Benefit Questions (65+/Medicare-eligible [including disabled early Medicare eligible] and pre-65 eligible retirees/dependents)

Medicare Plan Options Questions (65+ or early Medicare retirees with or without Grainger Retiree Health)


Connect with a Benefit Pro

Access the Provider Search Tool

Keep in Mind

Enroll Now

2022: Your Cost for Coverage

When Coverage Ends

If You and Your Spouse or Domestic Partner Are Both Grainger Team Members


Special Savings Offers


Profit Savings Plan

Profit Sharing Plan Historical Plan Information Pre-2021

Dear Team Member,

The last 18 months have pulled us in all sorts of directions and presented several new challenges. Many of you have had to adapt to an ever-changing lifestyle that includes homeschooling kids, working overtime, taking care of loved ones, and worrying about finances. At Grainger, we recognize the toll these changes take on your personal wellbeing. And while I’m proud to say you’ve continued to provide exceptional customer service despite these challenges, it’s just as important to put the same attention on yourself.

We want you to be your best, not only at work but at home. That’s why we’ve made some enhancements to our benefits programs to better support your emotional, financial, physical, and social wellbeing. These new programs will provide access to short-term cash, one-on-one financial coaching, or stress management support. Over the last year, we built a strong foundation of wellbeing resources to ensure you have more choice and flexibility with your benefits.

This Annual Enrollment Decision Guide will help you navigate the robust benefits that Grainger offers and support you in making your elections for 2022. Annual Enrollment will run from October 11 to 29, 2021. Now is the time for you to take action for you and your family’s wellbeing. We have more plans underway to continue to enhance our wellbeing offerings and we’re excited to share these with you soon.
As always, thank you for all you continue to do for each other, our organization, and our customers.

Stay well,
Kathleen Carroll
SVP & Chief Human Resources Officer

LinkedIn: Kathleen Carroll
Instagram: @KathleenSCarroll
Firstup: @kathleen.carroll8