Social Security to Stop Mailing Annual Earning Statements

1:18 pm Uncategorized

social security card1 e1296073260792 Social Security to Stop Mailing Annual Earning StatementsRemember that annual reminder you used to get from the Social Security Administration that another birthday was approaching and you were one year closer to retirement age?   Well, this month those reminders are stopping – and they won’t resume unless the SSA fails at finding a way to post them securely online for workers to download.

The annual statements, which outlined your lifetime earnings and provided an estimate of what your Social Security benefits would be upon retirement at various ages, have fallen victim to the budget axe.  The SSA estimates that it will save about $30 million annually by not sending out the 152 million statements it mails each year.

The SSA said that it would resume mailing the annual statements in October to workers over the age of 60 who have not yet started to receive benefits.  The agency also said it hopes to have a secure way of letting Americans download the information via the SSA website by the end of the year.

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