Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
SS Statement to Resume
Old 01-25-2012, 07:37 AM   #1
Thinks s/he gets paid by the post
DFW_M5's Avatar
 
Join Date: Sep 2003
Posts: 4,982
SS Statement to Resume

I saw an article the other day in the paper, that indicated that SS statement mailings would resume shortly, I believe for those that are 62 and above, but not yet collecting, and for new workers so that they would understand how the system works. It will be interesting to see what sort of disclaimers are inserted in the statements for the younger workers to explain how their benefits will be pared back due to future changes to make the system solvent.
__________________

__________________
DFW_M5 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-25-2012, 07:51 AM   #2
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,492
Thanks for the heads up. Nothing official from the SSA, but here is a link to a CBS story. Social Security to resume statements for some - CBS News)
__________________

__________________
MichaelB is offline   Reply With Quote
Old 01-25-2012, 10:07 AM   #3
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,952
Thanks for letting us know about this.

From the article,
Quote:
Annual statements will begin being sent again next month to people 60 and older who are not yet receiving benefits, Social Security Commissioner Michael Astrue said in a letter obtained by The Associated Press. One-time mailings to 25-year-old workers introducing them to the entitlement program and their potential benefits will begin being sent by the end of the year, the letter says.

Despite that, the bulk of the 150 million people who had received the statements will not, instead being directed to a website the Social Security Administration plans to open in the coming months to allow access to benefit estimates. In Astrue's letter, dated Friday, he also says people who are unable to access the Internet or who have other reasons for needing a paper statement will be able to request one.
Good! I will look forward to getting a statement, since I am 63 and haven't claimed SS yet. I checked my benefits online but it would be nice to have a hard copy. I am also curious as to what, if any changes there may be in the wording.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 01-25-2012, 10:24 AM   #4
Thinks s/he gets paid by the post
 
Join Date: Nov 2009
Posts: 3,874
I would like to get one because the last few I received never included the zeroes for wage income I had in 2009 and later after I ERed in late 2008, so those statements always assumed my 2008 wages would keep increasing. I developed a spreadsheet and plugged in zeroes for a bunch of years but would have welcomed a statement from SS which was actually up to date and assumed no further wage income.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
scrabbler1 is offline   Reply With Quote
Old 01-25-2012, 02:42 PM   #5
Full time employment: Posting here.
 
Join Date: Mar 2008
Posts: 637
I think being able to get access is critical. Twice in the last 5 years DH wages were not recorded--2 full calendar years later. Had we not seen that, it would not have been corrected. And I believe you only have 3 years to make corrections.
__________________
bizlady is offline   Reply With Quote
Old 01-25-2012, 02:51 PM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
 
Join Date: Jan 2008
Location: Chicagoland
Posts: 11,984
It would have been nice to continue to receive an annual statement, but I'm all for cutting spending so I accept that I won't get one until I'm 62. I went online today to see if I could pull up my earnings history, no dice. Then I went to their 'Retirement Estimator' and got a surprising result, compared to my last paper statement Feb '10:

My benefit at age FRA 66 was up $6/month
My benefit at age 70 was down $14/month
My benefit at age 62 was up $20/month

Small variances, but how can they not all move in the same direction?
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 60% equity funds / 35% bond funds / 5% cash
Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)
Midpack is online now   Reply With Quote
Old 01-25-2012, 02:59 PM   #7
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,613
Quote:
Originally Posted by Midpack View Post
It would have been nice to continue to receive and annual statement, but I'm all for cutting spending so I accept that I won't get one until I'm 62. I went online today to see if I could pull up my earnings history, no dice.
This to me is the problem. I have no issue with having to use their online calculator to estimate benefits. What I don't like is that it appears there is no way to validate your earnings history or make sure you are credited properly.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 01-25-2012, 03:13 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
 
Join Date: Jan 2008
Location: Chicagoland
Posts: 11,984
Quote:
Originally Posted by ziggy29 View Post
This to me is the problem. I have no issue with having to use their online calculator to estimate benefits. What I don't like is that it appears there is no way to validate your earnings history or make sure you are credited properly.
Looks like you can if you jump through some hoops (and pay for the privilege if you want it certified).http://www.socialsecurity.gov/online/ssa-7050.pdf
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 60% equity funds / 35% bond funds / 5% cash
Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)
Midpack is online now   Reply With Quote
Old 01-25-2012, 03:21 PM   #9
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,156
Quote:
Originally Posted by Midpack View Post
Looks like you can if you jump through some hoops and pay for the privilege. http://www.socialsecurity.gov/online/ssa-7050.pdf
Not necessarily. According to the info in the box:

Quote:
DO NOT USE THIS FORM FOR:

Non-certified yearly totals of earnings


This service is free to the public.

These totals can be obtained by calling
1-800-772-1213 to receive Form SSA-7004,
Request for Social Security Statement
Looks like you need to pay only if you need a certified document.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 01-25-2012, 03:25 PM   #10
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,613
Quote:
Originally Posted by REWahoo View Post
Looks like you need to pay only if you need a certified document.
Seems odd that these other forms would be available online for printing but SSA-7004 isn't. I can only assume they want to discourage using it to save money, so they add hoops to jump through to get the form.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 01-25-2012, 03:26 PM   #11
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,156
Quote:
Originally Posted by ziggy29 View Post
Seems odd that these other forms would be available online for printing but SSA-7004 isn't. I can only assume they want to discourage using it to save money, so they add hoops to jump through to get the form.
+1
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 01-25-2012, 03:41 PM   #12
Full time employment: Posting here.
 
Join Date: Mar 2008
Posts: 704
Quote:
Originally Posted by scrabbler1 View Post
I would like to get one because the last few I received never included the zeroes for wage income I had in 2009 and later after I ERed in late 2008, so those statements always assumed my 2008 wages would keep increasing. I developed a spreadsheet and plugged in zeroes for a bunch of years but would have welcomed a statement from SS which was actually up to date and assumed no further wage income.
You can download their detailed calculator:

Compute Your Benefit with our Detailed Calculator

I download it because of WEP. It's the best way to get an accurate estimate. You could then specify no forward earnings to get your estimate. It is tedious to put in all your years, but once in, you can do all kinds of what-if scenarios.
__________________
akck is offline   Reply With Quote
Old 01-25-2012, 04:38 PM   #13
Thinks s/he gets paid by the post
 
Join Date: Nov 2009
Posts: 3,874
Quote:
Originally Posted by akck View Post
You can download their detailed calculator:

Compute Your Benefit with our Detailed Calculator

I download it because of WEP. It's the best way to get an accurate estimate. You could then specify no forward earnings to get your estimate. It is tedious to put in all your years, but once in, you can do all kinds of what-if scenarios.
I had actually downloaded this a few months ago but got a page filled with nonsense and did not know why. But after your reply, I went back in and took another shot and figured out how to work it and got a useful output I can work with (and paste into a spreadsheet to check my results).

Thanks for the nudge.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
scrabbler1 is offline   Reply With Quote
Old 01-25-2012, 04:48 PM   #14
Thinks s/he gets paid by the post
target2019's Avatar
 
Join Date: Dec 2008
Posts: 3,710
This is all silliness. The figures are in a computer database or two. Give me my numbers in a web page or in a PDF after I authenticate.
__________________
target2019 is offline   Reply With Quote
Old 01-25-2012, 07:03 PM   #15
Full time employment: Posting here.
 
Join Date: Mar 2008
Posts: 704
Quote:
Originally Posted by scrabbler1 View Post
I had actually downloaded this a few months ago but got a page filled with nonsense and did not know why. But after your reply, I went back in and took another shot and figured out how to work it and got a useful output I can work with (and paste into a spreadsheet to check my results).

Thanks for the nudge.
I think the latest version is from November. If you downloaded it before then, you might want to get it again. Yes, it's not very helpful for filling it out, but once you get it, it becomes easy to run multiple scenarios.
__________________
akck is offline   Reply With Quote
Old 01-25-2012, 07:17 PM   #16
Thinks s/he gets paid by the post
 
Join Date: Oct 2006
Posts: 3,820
Glad to see this resume. Lots of us here are DIY types who figure we can use online calculators.

But, most Americans can use an occasional reminder. SS is very important for retirement planning and most people are baffled by the benefit formula. Giving them a number once a year is money well spent.
__________________
Independent is offline   Reply With Quote
Old 01-25-2012, 07:21 PM   #17
Thinks s/he gets paid by the post
 
Join Date: Nov 2009
Posts: 3,874
Quote:
Originally Posted by akck View Post
I think the latest version is from November. If you downloaded it before then, you might want to get it again. Yes, it's not very helpful for filling it out, but once you get it, it becomes easy to run multiple scenarios.
I downloaded mine back in late September. However, my main reason for wanting the official calculator/statement was to check my spreadsheet. When I updated my spreadsheet to include the latest wage indexing factors and bend points, I got the same monthly benefit amount (within a few pennies) as the SSA's software did. So I am satisfied that my spreadsheet is mimicking the SSA's calculator correctly.

Because my wage history will ever change, all I will need to do is to update my spreadsheet to include the new wage indexing factors (only for the years I worked) and bend points and I will be fine....as long as there are no major law changes to the overall benefit formula, in which case all bets are off!
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
scrabbler1 is offline   Reply With Quote
Old 01-25-2012, 09:21 PM   #18
Thinks s/he gets paid by the post
Brett_Cameron's Avatar
 
Join Date: May 2011
Location: South Eastern USA
Posts: 1,010
I dug through the documents and formulas for PIA determination and made my own calculator that I use to make sure the on line estimates are correct.
__________________
Brett_Cameron is offline   Reply With Quote
Old 01-25-2012, 09:58 PM   #19
Thinks s/he gets paid by the post
 
Join Date: Jan 2004
Posts: 2,049
A PDF can't be issued for those who signup? EFTPS has registrations linked to an address. Why not SSA?
__________________

__________________
eridanus is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Resume - name current employer? JohnGalt Other topics 21 07-08-2011 06:23 AM

 

 
All times are GMT -6. The time now is 04:46 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.