SS Statement to Resume

[eytonxav]

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.

[MichaelB]

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)

[W2R]

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.

[scrabbler1]

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.

[bizlady]

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.

[Midpack]

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?

[ziggy29]

Quote:

Originally Posted by Midpack 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.

[Midpack]

Quote:

Originally Posted by ziggy29 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

[REWahoo]

Quote:

Originally Posted by Midpack 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.

[ziggy29]

Quote:

Originally Posted by REWahoo 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.

[REWahoo]

Quote:

Originally Posted by ziggy29 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

[akck]

Quote:

Originally Posted by scrabbler1 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.

[scrabbler1]

Quote:

Originally Posted by akck 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.

[target2019]

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.

[akck]

Quote:

Originally Posted by scrabbler1 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.

[Independent]

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.

[scrabbler1]

Quote:

Originally Posted by akck 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!

[Brett_Cameron]

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.

[eridanus]

A PDF can't be issued for those who signup? EFTPS has registrations linked to an address. Why not SSA?