This has to be good news especially for folks who are not able to get online readily to check their statements. While there is a belief that Internet technology is ubiquitous, there are some segments of the population who still prefer paper.
Social Security to resume benefits statement mailings
BY MARK MILLER
An American flag flutters in the wind next to signage for a United States Social Security Administration office in Burbank, California October 25, 2012.
CREDIT: REUTERS/FRED PROUSER
(Reuters) – Paper Social Security benefits statements, which used to be mailed out every year and then fell victim to budget cuts, are going to make a partial comeback.
Starting this September, the Social Security Administration (SSA) will resume mailings at five-year intervals to workers who have not signed up to view their statements online, an agency spokesman told Reuters. The statements will be sent to workers at ages 25, 30, 35, 40, 45, 50, 55 and 60, he said, adding the agency would continue to promote use of the online statements.
The SSA stopped mailing most paper statements in 2011 in response to budget pressures, and saved the SSA $70 million annually – about 50 cents per mailed statement. But the decision has been a sore point with some critics, who argue the statement provides a valuable annual reminder to workers of what they can expect to get back from payroll taxes in the future.