The Social Security Administration (SSA) has issued sample text which may be used by employers and payroll organizations to inform employees of the upcoming program by the SSA to issue Social Security Statements to all workers 25 and older. Employers and payroll organizations have requested that the SSA prepare such a message which could then be distributed by employers and payroll organizations to employees as a way of explaining the upcoming program and hopefully minimizing inquiries by employees regarding the purpose and intent of the statements. We are reprinting the text of the statement for your use. The SSA has suggested that it be included in company newsletters, bulletin boards, paycheck stuffers, etc.
Your Social Security Statement: The Future’s In Your Hands
In October 1999, the Social Security Administration will begin mailing Social Security Statements (formerly known as the Personal Earnings and Benefit Estimate Statement) to all workers age 25 and older (about 125 million) who are not already receiving monthly Social Security benefits.
You can expect to receive your Statement each year about three months before your birth month. For example, if your birthday falls in February, you can expect to receive your Social Security Statement in November.
The 4-page Social Security Statement is intended to help you plan your financial future by providing estimates of the monthly Social Security retirement, disability and survivors benefits you and your family could be eligible to receive now and in the future. The Statement will remind you that Social Security is the foundation on which to build a more secure future.
The information in the Social Security Statement also will provide you with an easy way to determine whether your earnings (or self-employment income) are accurately reported and recorded on your Social Security record. Making sure the name and Social Security Number your employer has on record matches your Social Security card is the best way to ensure earnings will be accurately posted. That’s important because the amount of your future benefits will be based on your Social Security earnings record. The Statement will tell you how to correct inaccurately recorded earnings.
In addition to helping plan your retirement, these are other ways to use your Social Security Statement:
- Plan your financial security for today and tomorrow by knowing the amounts of Social Security benefits that could be available to you and your family if you become disabled.
- Determine whether you have sufficient insurance to protect your survivors if you die.
- See how your potential Social Security benefits fit in with your investments and savings.
For more information about Social Security benefits, call or visit your local Social Security office, call this toll-free number, 1-800-772-1213, or visit this Web site: www.ssa.gov.