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Social Security may send annual statements again
In a 2011 cost cutting measure directed by Congress, Social Security stopped automatically sending annual benefit statements to workers 25 and older. Annual benefit statements were only sent annually to those age 60 or more, with younger folks getting a statement only once every 5 years. The theory back then was that online statements are available and so people needing that information would access it online. Problem is, online statement access has not really gained popularity, so many people who are trying to plan for their retirement don’t have easy access to their Social Security benefit information. Now, in a bipartisan effort to correct this situation, the Social Security subcommittee of the House Ways and Means Committee has introduced legislation – H.R. 5306 and S. 2989 – to direct the Social Security Administration to resume sending annual benefit statements to those over 25 years of age. All of this is explained in this blog article by Kathleen Romig, appearing at the Centers on Budget and Policy Priorities website. Click here to read more.
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