Know Your Social Security - AMAC & CNBC
It’s back, and it’s called the Know Your Social Security Act. This is a bipartisan bill that has been introduced in Congress before. Currently the Social Security Administration only sends mailed annual statements to people ages 60+ not yet collecting benefits and who have not created online accounts with the agency. Under this Act, the administration would be required to mail annual statements to workers ages 25+ who are paying into the system. Prospective beneficiaries may choose to instead receive their annual statements electronically, so paper and waste will not be as big an issue as you might think. Lorie Konish writes about this new 2021 version of the bill for CNBC here.