Check Mailings Being Discontinued by SSA
In a move that is of interest to people who are retired or planning for retirement the Social Security
Administration is implementing a cost-cutting measure that is expected to save United States
taxpayers approximately $1 billion over the next 10 years.
Beginning in March of 2013 the practice of mailing out monthly checks in hard copy form is being
This $1 billion figure is rather amazing considering the fact that nine out of every 10 people who are
receiving Social Security at present are already accepting electronic payments.
Since 10,000 people are becoming newly eligible for Social Security daily this is a move that took place
at an ideal time to reverse what would have been a steady upward climb in costs.
The majority of people will be converting to direct deposits, but those who do not have a bank
account could have their monthly benefits loaded onto a Direct Express Debit MasterCard.
Up until last year the SSA was sending out hard copy annual statements to everyone who has paid into
the program. This was expensive as well, carrying a price tag of somewhere in the vicinity of $70
million every year.
The paperless initiative started by cutting out the mailings of these statements. Now only people over
the age of 60 get an annual statement in the mail.
You can however access your statement online via the Social Security Administration website. In a very
real sense the shift to electronic availability of the statements has provided increased access because
you can take a look at your statement anytime you want to, making the change a win-win situation all
the way around.
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