Paper Social Security statements are back
The Social Security Administration will resume mailing paper earnings statements to many Americans in September.
This post comes from Krystal Steinmetz at partner site Money Talks News.
Have you missed the paper Social Security benefits statements you used to receive annually in the mail? You'll be happy to know that the Social Security Administration plans to resume mailing the benefits statements in September.
But not everyone will receive the paper statements, which estimate future Social Security earnings.
The mailed statements fell victim to budget cuts in 2011.
Reuters said the paper statements will be mailed to workers at ages 25, 30, 35, 40, 45, 50, 55, 60 and older. If you've signed up to view your benefits statements online, you will not get the mailed statement.
AARP said the mailed earnings statements are important for many Americans, because so few people -- about 11 million -- have signed up to read them online.
"Social Security is and will continue to be the foundation to a secure retirement," said Gary Koenig, director of economic security at the AARP Public Policy Institute. "It is important that people have a basic understanding of what their benefits may be when planning for their future."
The Social Security Administration decided to reinstate mailed statements after receiving "pressure from the paper industry and advocacy groups for the elderly and other Americans who do not have regular access to the Internet," The Washington Post said.
John Runyan, executive director of Consumers for Paper Options, said in a statement, "Millions of Americans, including the 25 percent without Internet access, have no way to verify the accuracy of their Social Security benefits, or even plan for retirement without the mailed Social Security earnings statements."
Do you prefer to view your Social Security earnings statements on paper or online?
More from Money Talks News
What's missing from this article:
Not mailing statements every year saved money, but it also served a political agenda. When Americans don't see an annual statement of future benefits, these future benefits slip from their minds. Then when their future arrives, they aren't so shocked if their benefits have been lowered, postponed, or erased.
The timely mailing of paper statements just reminds participants the plan still exists and what current policy is. Philosophically agree with the SSA or disagree with it, mailed statements to all is a simple act of transparency.
My father paid into Social Security so his father could draw on it.
I paid into Social Security so my father could draw on it.
Now it is my sons responsibility to do the same. I hope that generation has the responsibility to do so.
Ponzi schemes. Illegal for you or me, but when the government does it, it's ".. the foundation to a secure retirement".
What a joke. How about you let me keep my money, and plan for my own retirement? I have my own best interest in mind. The government doesn't.
AAHH Yes, The almighty Dollar.
"The Social Security Administration decided to reinstate mailed statements after receiving "pressure from the paper industry"
It's always about the money.
Aint America grand?
Twenty years ago no one suggested not having Social Security it was considered a lifeline in old age. Starting with Bush #43 a push was made to allow people to invest in private accounts if they wished. The problem with the Republican plan is in the fine print. They seldom mention that as in the Ryan plan this would include government guarantee's against loss of principle in the event of a meltdown. In a 2008 type meltdown if even half the population was invested in private plans over decades we could be looking at 20 trillion or more to cover that guarantee, maybe a lot more. Eliminate the guarantee and safety net programs from those who chose to gamble instead of the alternative. A modest Social Security and Medicare program that at least offers modest safeguards for old age. People shouldn't be able to risk their retirement then have the responsible ones pick up the tab if that risk doesn't pan out.
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