Social Security Annual Earning Statements Eliminated
If you look forward to receiving your social security yearly earnings statements in the mail and you had a birthday last summer, you may have wondered why you did not receive your statement. Effective April 1st of 2011, in a cost cutting move, the Social Security Administration ceased mailing the yearly statements. The elimination of the
statements, mailed to 150 million people a year, will save $70 million a year. However, this savings also comes with a cost.
These annual earnings statements are an invaluable tool that helps millions of Americans plan for their retirement. These four-page statements, which had been sent to all Americans over age 25, provide a detailed record of each individual’s earnings record, an estimate of their expected retirement benefit, the approximate amount they will receive each month if the worker becomes disabled, and how much a worker’s family will receive if the worker dies in the coming year.… View Full Article → “Social Security ALERT: No More Annual Earnings Statements”