Social Security Update

Social Security Changes Statement Policy

On October 1, 2012, the Social Security Administration (SSA) took the following actions:

• Suspended all paper mailings of Social Security Statements, including mailings to people 60 and older and individuals age 25
  
• Suspended all on-request mailings and instructed SSA personnel to discontinue the distribution of the Form SSA-7004 to request a Statement

REMINDER: The SSA launched online statements earlier this year that all individuals should be able to access through MySocialSecurity.

We encourage you to use this opportunity to reach out to your clients who are approaching retirement to discuss this new development. A broad announcement from the SSA may not be made.

These changes were made due to the current budget situation. Prior to this change, workers and former workers age 60 or older who were not receiving benefits were sent Statements about three months prior to their birthdays. Additionally, workers who were approaching their 25th birthday were sent Statements about three months prior to their birthdays.

In the absence of Statements, you should download an Online Statement at MySocialSecurity at least annually. This online statement will provide the benefit estimates needed to run the Social Security Optimizer which aids us in creating an appropriate collection strategy for you as a planning client.