Beginning in September, workers older than 25 will begin receiving Social Security benefits statements again, every 5 years. The practice was discontinued to save money and the environment, but only 6% of workers are currently signed up to get theirs online.
The Social Security benefits statement is that little tidbit of information about how much you should receive if you work until a certain age and maintain a certain level of pay. The most important thing to look for is the earnings record, because it shows how much you have made each year. Be sure it is correct or you may get shorted on benefits. And, speaking of shorted, you may want to note this bit of information, "The law governing benefit amounts may change because, by 2033, the payroll taxes collected will be enough to pay only about 77% of scheduled benefits." Does that mean that people that never paid into the system will get their benefits cut too.
Don’t count on it.
PMO
©2014
No comments:
Post a Comment