Collecting Social Security, perhaps, is a job description for two different positions: RETD (Retired) and RET (Retired). RETD is a four-letter acronym for a person who has retired from their job and is now collecting Social Security benefits. RET is a three-letter acronym for a person who has retired from their job and is now collecting Social Security benefits. Both positions involve collecting Social Security payments, either through direct deposit or other means.