Social Security Resumes Mailing Benefit Statements

The Social Security Administration has resumed mailing statements to workers letting them know the estimated benefits they will get when they retire, the agency announced. Social Security began phasing out mailed statements to most workers in 2011 to save an estimated $70 million a year. Instead, the agency directed workers to track their future benefits online using a secure website. Congress, however, passed a bill last year requiring Social Security to resume mailing the statements. The agency said that many workers will now start receiving paper statements in the mail every five years, starting a few months before their 25th birthday. Once workers reach 60, they will get them every year. The first statements were mailed out September 15, 2014. “We have listened to our customers, advocates, and Congress,” acting Social Security Commissioner Carolyn Colvin said in a statement. “Renewing the mailing of the statement reinforces our commitment to provide the public with an easy, efficient way to obtain an estimate of their future Social Security benefits.”

Source/more: Associated Press/ABC News