PVA Supports Common Sense Legislation on Social Security Statements
By PVA National Staff
PVA has endorsed a bipartisan legislation (H.R. 5306 and S. 2989) to require the Social Security Administration to resume mailing every American age 25 and older a statement explaining the benefits he or she can expect to receive. Introduced late last year, the Know Your Social Security Act was sponsored by House Ways and Means Social Security Subcommittee Chairman John Larson (D-CT), Ways and Means member, Vern Buchanan (R-FL), Senate Finance Committee member Ron Wyden (D-OR) and fellow Finance Committee member, Bill Cassidy (R-LA).
The Social Security Administration used to send out earnings and benefits statements to almost all workers and beneficiaries but stopped doing so in 2011 in order to save money. The agency assumed that people could always check their benefits any time online. The agency in 2010 mailed over 150 million statements, for example, but in 2018, that dropped to about 10 million people age 60 or older who haven’t claimed benefits or checked on what they can expect online. A similar number of people checked online on their own, meaning about 125 million fewer people are getting the information than were a decade ago.