Why kill trees? Paper eliminates forests and costs alot of money to produce.
Social Security Administration is wasting millions of dollars sending annual statements to everyone. Although the earnings records and future projections of Retirement Benefits, Disability Benefits, and Survivors Benefits are informative, it is wasteful to prepare, print and mail individual statements every year.
In addition to the retirement
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Why kill trees? Paper eliminates forests and costs alot of money to produce.
Social Security Administration is wasting millions of dollars sending annual statements to everyone. Although the earnings records and future projections of Retirement Benefits, Disability Benefits, and Survivors Benefits are informative, it is wasteful to prepare, print and mail individual statements every year.
In addition to the retirement projections, another objective for SSA was to be "customer friendly" and allow participants to review their earnings data to determine its accuracy.
The earliest retirement benefit commences at age 62. Disability or survivors benefits are available in certain circumstances, but annually the projections do not materially change.
Therefore, I recommend that SSA prepare and mail these Statements less frequently, such as: for individuals less than 35 years old, every 5 years; for individuals between 35 and 55 years old, every 3 years; and then annually after age 55. Retirement planning is most relevant as one gets closer to this event. Also consider making this information available to beneficiaries electronically, in a secure way, similar to internet banking.
Recordkeeping may be important, but someone 25 years of age, who has a retirement horizon so far in the future, should be able to verify their earnings data once in 5 years.
This would benefit to the government greatly, in the form of savings for computer processing, paper, printing and mailing costs, in addition to the manpower costs.
Just imagine the millions of dollars that could be saved. The government will be more efficient, with no negative consequences to individuals, and at the same time we are saving trees.
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