If you are like me and many of our clients, you may have noticed that your Social Security paper statement, outlining what your benefit amount would be if you became disabled and/or when you retired, stopped coming in the mail in 2011. This was an effort by the Social Security Administration to control costs as the statements cost approximately $.50 per statement (or approximately $84million). Since then, SSA has asked workers to sign up for an account at http://www.ssa.gov/myaccount/ to check their benefit statement online.
However, this decision was met with much criticism, so the SSA has changed its course and will resume mailing benefit statements in the near future. The biggest difference is that, instead of mailing the statements yearly, they will be mailed every five years from age 25 through age 60. Nonetheless, SSA will continue to encourage workers to sign up for an account online at the address above.