Your SS benefit is derived from the last 40 years of work, then the lowest 5 years of earnings are dropped from that grouping. So, for example, if you decided to retire in 2011, and you are 62, they would consider all earnings between 1971 and 2011, then drop the lowest 5 years.
Retire at age 62, you get 75% of what you would get at full retirement age. Retire at age 63, and it's 80%. I would have to look it up to be certain, but I think the current full benefit retirement age is 66 and is gradually increasing.
Of course, they're always talking about monkeying around with future benefit amounts.
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