Reducing Overlapping Payments Act - Amends title II (Old Age, Survivors, and Disability Insurance) (OASDI) of the Social Security Act to require reduced to zero the total of an individual's monthly disability insurance benefits and any spouse's, surviving spouse's, child's, widow's, widower's, or parent's OASDI benefits based on the individual's wages and self-employment income for any month before the individual attains retirement age in which that individual is entitled to both disability insurance benefits and unemployment compensation. (Thus allows only unemployment compensation in such a situation.)