Last year (2011), the US government, due to budgetary constraints did not send out the annual Social Security paper statement concerning tax payer credits, earnings history, and projections. Click here for complete details of our prior article.
This year they have returned for some, and others electronically. By going to this Social Security site, you may create an account and receive an on-line version of your statement with your account information. In less than 5 minutes (being my own guinea pig) I was able to complete this process and download a pdf version of my 2011 statement for future reference. We highly recommend you do this as a tax payer, as it is a good idea to review your credit history for errors due to the fact there is a time limit for having salary credited to your account.
For those age 60 or older who are not currently receiving Social Security benefits you are supposed to receive a paper statement until you commence benefits. On the other end of the scale, those newer workforce participants turning 25, will receive A (only one) paper benefit statement as well.
This from a Social Security press release earlier in 2012:
“In February 2012, Social Security resumed mailing paper Statements to workers age 60 and older if they are not already receiving Social Security benefits. Later this year, the agency plans to mail paper Statements to workers in the year they reach age 25.”
The following is a bit of less than uplifting, but honest, language from page 1 of our statements:
“Without changes, in 2033 the Social Security Trust Fund will be able to pay only about 75 cents for each dollar of scheduled benefits.* We need to resolve these issues soon to make sure Social Security continues to provide a foundation of protection for future generations.”
While we all have our beliefs on when and how much benefits will be in the future, it is very important we confirm that we are being credited for the amounts we pay in, no matter what the end result may be. Please take a few minutes to review the site and create your account for current and future review.
Have a Great Day and a Super Weekend!