No Snail Mail for Social Security Annual Benefit Statements

 In a cost-cutting effort to save $30 million, the Social Security Administration is suspending delivery of annual benefits statements by mail for this fiscal year which ends in September. Starting next year, they anticipate saving an additional $60 million by mailing benefits statements only to those 60 years and older. Everyone else will have to go online at www.ssa.gov/estimator for their personalized estimate of their future retirement benefits based on their actual work history.

While some may perceive this to be a step in the right direction by saving trees, energy, and the like, the online tool does not include a year-by-year earnings record or estimates of potential disability and survivor benefits. However, the Social Security Administration is working to provide the statements online, but it may take some time.