Know Your Social Security Act Introduced
By PVA National Staff
PVA has endorsed legislation introduced by House Ways and Means Social Security Subcommittee Chairman John Larson (D-CT), Ways and Means Committee Member Vern Buchanan (R-FL), Senate Finance Committee Ranking Member Ron Wyden (D-OR), and Finance Committee Member Bill Cassidy, M.D. (R-LA) titled, “Know Your Social Security Act” (H.R. 5306/S. 2989). This legislation will clarify the requirement for the Social Security Administration (SSA) to mail an annual Social Security statement to all workers ages 25 and older with covered earnings, who are not receiving Social Security benefits. Since Fiscal Year 2011, SSA has failed to mail annual statements, citing limited operating budgets, even though in 1989 and 1990 Congress enacted requirements for SSA to provide such a statement each year.
In a press release, Chairman Larson said, “Social Security is our nation’s foundation to a solid retirement. Americans who contribute to Social Security should receive an update every year so they know what benefits they are earning and can plan for their retirements. No matter what happens in the stock market, Social Security will always be there for them. I’m proud to introduce this bipartisan, bicameral legislation alongside Ranking Member Wyden, Senator Cassidy and Congressman Buchanan.” The House bill was subsequently marked up by the Ways and Means Committee on December 11, and now awaits a vote in the full House of Representatives.