Social Security statements will be returning to mailboxes

The Social Security Administration made headlines back in 2011 when it announced that the paper statements that Americans received in their mailboxes every year were being eliminated and would henceforth only be accessible via the agency website.

While the SSA claimed the move was necessitated by budget cuts and would save roughly $70 million a year, critics were quick to condemn it. Specifically, they argued that those parties who are most likely to rely upon their Social Security benefits during their retirement years -- and therefore the most in need of access to an annual statement -- were often lacking Internet access.

In recent developments, the SSA has announced that the paper statements will soon be returning to mailboxes -- albeit on a less frequent basis.

Agency officials have indicated that the paper statements, which contain such invaluable information as estimates for both monthly retirement benefits at varying ages and disability benefits, will resume in September.

However, the paper statements won't be mailed to those who have already signed up for online access, and will be limited to five-year intervals, meaning they will be sent to workers at the following ages 25, 30, 35, 40, 45, 50, 55 and 60.

The move has encountered something of a mixed response from advocacy groups who argue that the 6 percent of the U.S. workforce that has signed up for online statements might still be missing out on otherwise invaluable information.

"It's a step in the right direction," said an official with Strengthen Social Security. "But the mailings shouldn't be limited to workers who haven't signed up (for) online accounts. Just because people have signed up, it does not mean that they revisit it to check their earnings statements."

It should be noted that the move back toward the paper Social Security statements became possible thanks to a more favorable 2014 budget forecast, which saw the agency's available funds jump to $11.7 billion.

What are your thoughts on the partial restoration of paper Social Security statements? Are you glad to see them returning or do you find them unnecessary?

Source: Yahoo! News, "Social Security to resume benefits statement mailings," Mark Miller, April 19, 2014