May 5, 2014

Paper Social Security benefits statements make partial comeback

As a budget saving measure, the Social Security Administration ceased mailing paper benefits statements in 2011. The statements provide updated projections about benefits based on a worker's earnings, and age at which benefits are claimed. If you have signed up to view your statements online as the agency suggested, you are among just 6% of workers who did.  Analysts believe that among those who did not, a high percentage lack internet access. Ironically, these are the people for whom Social Security will likely be the most important source of retirement income, and therefore, are the people most in need of the information about future benefits.

To fix this information gap, the Social Security Administration will resume mailing paper benefits statements to individuals who are not signed up for internet access. Statements will not be annual as in the past, but will be mailed every 5 years. If you have not signed up to view your statements online, you will receive paper statements at age 25, 30, 35, 40, 50, 55 and 60.

Still, it is more convenient, and certainly kinder to the environment, to view your statements online. To sign up, click here.

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