Do you remember getting your annual benefits statement from Social Security around the time of your birthday each year? These Personal Earnings and Benefits Estimate Statements (PEBES) included: an estimate of monthly benefits you could expect to receive at various claiming ages, and for disability claims; explanation of how benefits are calculated; and listing of the worker’s history of income subject to Social Security tax. The SSA stopped mailing most paper statements in 2011 in response to budget cuts, and saved the SSA $70 million annually — about 50 cents per mailed statement. But the decision has been a sore point with some critics, who argue the statement provides a valuable annual reminder to workers of what they can expect to get back from payroll taxes in the future.
Paper Social Security benefits statements are going to make a partial comeback. Starting this September, the SSA will resume mailings at five-year intervals to workers who have not signed up to view their statements online, an agency spokesman told Reuters. The statements will be mailed to workers at ages 25, 30, 35, 40, 45, 50, 55, and 60, he said, adding the agency would continue to promote use of the online statements.
You can review your Social Security benefits statement online at any time by signing up for an account with SSA. To do this, go to https://secure.ssa.gov/RIL/SiView.do and complete the Create Account process.
To arrange a meeting to discuss your rights and options, contact our office online or call us at 601-987-3000.