This is the time of year just before we enter into a new year, that every American not yet of retirement age or who is not already receiving Social Security, should check their Social Security Statements for accuracy and completion. The Social Security Administration (SSA) in compliance with the Paper Reduction Act no longer sends out hard copies of Social Security statements. However, you can view and print out your statement on line simply by creating an account with the Social Security Administration.
The Social Security Administration has a recording of your earnings over the entire history of your work life – usually using a standard of 45 years. It does not mean that you actually have to work for 45 years. When the Social Security Administration came into being, working 45 years was not so far fetched. Although your earnings are reported via your employment, mistakes and omissions can be made. It is for that reason that it is important to check your SSA statements annually.
Checking your statements for accuracy is not the only reason you want to be on top of things, what you will receive as Social Security earnings is also a part of your retirement planning to work towards building a secure retirement future. Granting Social Security is more than a retirement program but one that might assist you and your family members if you become disabled or die.  Although Social Security represents the largest source of income for many retirees, it is a good bet that Social Security alone will not be enough for you to live comfortably in retirement.
When checking your annual statements, it is an opportunity for you to look at gaps in what you will need to pay your expenses and have some extra to live on when you retire. Let the annual statement be a reminder of how much you need to save and invest in order to have options in your retirement future. Your statement will give you an estimate of what you will receive at age 62, your full full retirement age and at age 70.  Your statement will also estimate how much you will receive if you became disabled right now.
There are a number of questions that can be answered by carefully reviewing your annual statement. First, if you find any errors or discrepancies on your statement you should contact the Social Security Administration immediately.  The SSA publishes a number of bulletins that will assist you in estimating you benefits and applying for benefits on line.
If you have general questions about your benefits, don’t hesitate to contact SSA and speak to a representative who will answer any questions you might have about your benefits.
P. S. Always Remember to Share What You Know.
Dianna Tafazoli
