Tag Archives: Paper Social Security Statement

Social Security Website and Recommended Review of Your Social Security Statement – Confirm those Credits

We wanted to give a shout out to the Social Security Website. Over the last few years we have continued to be impressed with their improvements.

Since we are here, it is a good time to remind everyone to go check your Social Security Records to make sure they have received proof of your income for the last few years. There is a 3 year window to get your credits added to your statement, otherwise they may be lost…

Social Security Web Page

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Use this link to find out the maximum full retirement age benefit – $2788/Month

How about find how remarrying will affect your benefits? Here is the answer!

If I retire early, will my benefits be reduced ? Just need 40 Credits! Here is the link to the calculator page to get a more precise estimate.

All answers were found on the site above… Well done guys !

Have a Great “Social Security Handy Website” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
www.street-cents.com

Paper Social Security Statements are Back….Well sorta

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!

JK

214-706-4300     www.jkfinancialinc.com