Wednesday, May 16, 2012

Online tool helps to estimate Social Security benefits

On May 1, Social Security launched a feature on its website, www.socialsecurity.gov, that allows workers to view an online version of their Social Security earnings and benefits statements. The program also allows you to estimate your retirement, disability and survivors benefits.

You can use this tool to show your kids how little you made when you started working (after you've reminded them that you walked 5 miles to get to school, without an iPod or cellphone). But more important, it can help you receive all of the benefits you're due, and make smart decisions about when to claim them.

Social Security used to mail workers an annual earnings statement, but suspended those mailings last year to save money. Starting in February, Social Security resumed mailing paper statements to workers 60 and older who aren't already receiving benefits. Later this year, it will mail paper statements to workers in the year they turn 25.

Source/more:  USA Today

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