Today, April 7, is National Check Your Statement Day, a time of public awareness reminding current workers to check their Social Security Statement and verify their earnings. (Please share this information and links.)
Whether receiving Social Security benefits or not, everyone can benefit from creating a personal, pin and password secured, my Social Security account. With their account, people can:
· Keep track of their earnings and verify them every year with their Social Security Statement;
· Get an estimate of their future benefits, if they are still working;
· Get a verification letter with proof of their benefits, if they currently receive them;
· Manage their benefits;
· Change their address;
· Start or change direct deposit;
· Get a replacement Medicare card; and
· Get a replacement SSA-1099 or SSA-1042S for tax season.
Checking your Statement is important for retirement planning but, in my opinion, it is even more important for people many years away from retirement, especially if you have dependent children.
Including survivors and disability benefits, Social Security is far more than retirement. Obviously, you hope not to need these for yourself or your family but knowing about them should be an important part of your family financial planning.
Available nowhere else online except through your my Social Security account, your Statement provides current estimates if survivors or disability benefits were needed now. These estimates are based on your personal work record, which is also on the Statement so that you can check its accuracy.
Use this information to help plan for the financial needs of your family now, and your future retirement.
Monica Ochoa is a Public Affairs Specialist for Social Security Administration in the Denver Region.