For the entire history of the Social Security program, workers have paid into the system without having a clear idea of what they will get back upon retirement or in the event they should become disabled. With the launch of a new online tool on the Social Security Administration’s (SSA) website, all that has changed. In addition to providing individuals online access to a digital version of their Social Security earnings statement or benefits statement, the new website feature allows citizens to estimate their retirement or disability benefits. Survivor benefits can also be estimated using the same tool.
In years prior, hard copy earnings statements were mailed out annually to every worker in the nation. These statements showed overall income and Social Security contributions for each year as well as cumulative totals. Also included in the annual earnings statement were estimated benefit amounts for retirement, disability, survivor and one-time death benefits, if applicable.
In 2011, the SSA ceased these annual mailings in an effort to save money. In early 2012, the SSA began mailing hardcopy statements to workers age 60 and over who are not yet receiving benefits. Paper statements will also be mailed to workers in the year in which they turn 25. These two exceptions to the new policy of not providing paper statements via standard mail come as a result of increased emphasis on individual retirement planning in the midst of the funding crisis which plagues the SSA.
Annual statements were always mailed to individuals under the concept that each and every person in the nation needed a clear snapshot of their records as they appear in the SSA’s data. Any errors in reported earnings affect Social Security and Medicare contribution records and can affect future benefits, including retirement, disability, SSI, survivor benefits, and widower benefits for your spouse and/or children.
While the SSA’s new policy of not mailing annual statements means each individual must do more work in order to see their earnings record, contribution account information for Social Security and Medicare, and estimated benefits, the addition of the online estimation tool to the SSA’s website provides some advantages as well. These include the ability to view and print or save earnings statements and benefit estimate information at any time without having to contact the SSA for assistance. Additionally, anyone who may be applying for disability benefits can get a fairly accurate estimate of what their monthly benefit payments will be if found eligible under SSA guidelines.
In order to gain access to your estimated benefits information and earnings history statement, you must first create an account on the SSA’s website. There is also the option to request a hardcopy earnings statement be mailed to you via standard postal mail; however, to request a statement by mail, you must still create an online account with the SSA first. Or you can call the SSA’s main phone line at 1-800-772-1213. Contacting your local Social Security branch office is also an option for those who wish to receive a hardcopy of their earnings and estimated benefits by mail.
After you’ve completed the account registration process, you’ll be able to login and view, save or print your entire earnings statement and estimated benefits report. You may also review only specific pieces of information, like the estimated disability benefits section of your individualized report at any time.
