Social Security announced that it will be resuming its practice of sending paper statement by mail to people that are enrolled under the program, which is a practice that the agency had attempted to completely eliminate.
However, Social Security is strongly encouraging all people enrolled in the program to sign up for a my Social Security online account that will allow them to gain access to their statements immediately and at any time.
Most workers will receive a mailed copy of their statements once in every five years. However, the importance of the Social Security statement is not to be taken lightly, as it provides people with estimates on the Social Security benefits that they will be expecting to receive in the future.
In addition, the Social Security statement shows the complete history of earnings for each person, which allows each employee to check the accuracy of their reported earnings.
"The statement is a valuable financial planning tool providing workers age 18 and older with important individualized information regarding their earnings, tax contributions, and estimates for future retirement, disability, and survivors benefits," said Social Security Acting Commissioner Carolyn Colvin in a statement.
According to Colvin, the agency's decision to bring back the mailing program is due to feedback from customers, advocates, and even from Congress.
Starting this month, employees that are turning 25, 30, 35, 40, 45, 50, 55 and 60 that are not the recipients of Social Security benefits and do not have a registered my Social Security account should expect their statement in their mail around 3 months before they celebrate their birthday.
After reaching the age of 60 years old, the enrolled individuals will be receiving their statements in their mail yearly.
With the resumption of the mailing program for Social Security statements, the agency is expecting to send out almost 48 million statements yearly.
However, Colvin is encouraging signing up for the my Social Security online account, which already has over 14 million registrants.
Through the my Social Security account, registered users are allowed to access their Social Security statements without having to wait for five years. An online account also allows users to oversee their respective benefit payments, acquire instant benefit verification letters, modify phone number and address details and begin or change the direct deposits of benefit payments.
No matter the channel though, Colvin reinforced the promise of the agency to deliver quality and convenient service to its customers in meeting the needs of the general public.
