In a prior blog, I mentioned that the federal government, in an attempt to limit its ongoing expenses, decided to phase-out all paper checks that are currently being sent to approximately 15% of Social Security beneficiaries. Well, as many of us are obviously aware, this was not sufficient to manage the ongoing debt crisis. In addition to phasing out all paper checks issued to Social Security beneficiaries, the Social Security Administration has also decided to end paper statements summarizing people’s projected Social Security benefits (for those who have not retired and started pulling down Social Security income).
Not only is the Social Security Administration no longer mailing these highly informative statements, but there is also no way to currently gain access to this information online (at least not at this point and time). According to the Social Security Administration Commissioner, the Social Security Administration will mail statements to those persons age 60 and older and only upon request to those younger. In the meantime, however, no one has access to either printed or online statements, which is of grave concern to the Government Accountability Office.
To learn more about the concerns of the GAO and how you may hope to gain access to statements concerning your projected Social Security benefits in the future, go here.