Why Your Social Security Statement Might Look Different
The Social Security Administration (SSA) is introducing a newly redesigned statement and it’s getting good reviews so far. Not only has the new statement shrunk from four pages to two – meaning less to read – but, according to MSN Money, for individuals nearing retirement age it does a better job of illustrating how the age at which you enroll for benefits will impact how much money you receive each month.
Financial professionals like how the new statement graphically illustrates how retirement benefit income could increase by delayed claiming. That’s great news for the SSA. The agency says it redesigned the statement in order to streamline messaging and make it easier for people to find key information.
Another change you might notice is that the SSA is now including new fact sheets with your Social Security statement. The fact sheet should help people better understand Social Security programs and benefits and will feature important information based on your age group and earnings situation.
The Seniors Trust wants to make sure retired Americans get all that they are entitled to from Social Security. It is working hard to convince Congress to enact the Social Security Expansion Act. This landmark piece of legislation will increase monthly benefits, establish a fairer cost-of-living adjustment based on the unique spending habits of seniors, and secure the long-term solvency of the Social Security program. Surveys show constituents fully support the bill. By signing this petition, you can tell your local lawmaker that you want him/her to pass the Social Security Expansion Act.
