Social Security Stops Issuing Paper Statements
March 22nd, 2012|
By suspending the mailing of annual statements to about 150 million Americans, the Social Security Administration (SSA) has created an information vacuum, says the Los Angeles Times.
For more than a decade a statement saying how much their monthly check would be when they retire had appeared in the mailboxes of some 150 million Americans once a year.
But last March the SSA suspended the mailing for everyone except near-retirees, age 60 and older.
The agency said that it was responding to a “bleak” budget projection, but it looks more as if it turned up its nose at a bargain: The mailings cost 44 cents per recipient.
The mailings were specifically mandated by Congress in 1989, and now the agency says that it’s working to restore the mailings.
Meanwhile, the agency promises to replace the paper statements with an online version, but that may not be for several months.
If you or a loved one received paper statements in the past, how do you feel about not getting them now? Do you want paper statements? Or do you prefer on online version?