Social Security has redesigned its online statements and there are some changes you need to know if this is a form you regularly access.
Jack Myers with Social Security indicates adults who do not receive Social Security benefits can access their statement online via their mySocialSecurity account. Adults age 60 and older who do not receive Social Security benefits and do not have a mySocialSecurity account will get a statement in the mail. The statement provides estimates of your future Social Security benefits, a record of your earnings, and a basic overview of Social Security programs.
According to Myers, the streamlined statements are now easier to read. Information is divided into sections, like different types of benefits to make it easier to find what you are looking for. Bar charts show your personalized retirement benefit estimates for up to 9 different ages depending on when you may start to receive benefits.
New fact sheets that are tailored to your age range or other circumstances are included as well. Myers says younger workers, for example, will get information about how to save for the future; older workers get information about how Social Security benefits may be taxed and how to avoid Medicare penalties.
Check out the new statement today at www.ssa.gov/myaccount.