But put in perspective, that is well under one dollar per American per year. Electronic payments and benefits statements will save an estimated $180 million a year. ![]() The reason behind the new system of benefits payments isn’t hard to understand. How Will Budget-Driven Changes Affect Those Who Receive Social Security Disability Benefits? ![]() Recipients can also choose a MasterCard debit card option. For some, this change will come immediately: anyone applying for benefits from the SSA, Department of Veterans Affairs, Railroad Retirement Board, Office of Personnel Management or Department of Labor as of May 1, 2011, must sign up to receive payments electronically to a bank or credit union account. The more challenging development is the federal government’s decision to phase out paper checks by early 2013. Also, a large share of Americans – particularly older and lower income Americans – do not have Internet access and will simply no longer be able to readily access this information. Some privacy advocates have expressed concerns about requiring citizens to provide Social Security numbers via the Internet. Everyone else will have to visit the SSA’s Online Retirement Estimator to access this information as well as a range of other helpful financial planning tools. While the SSA claims that mailings will resume in 2012, paper statements will only be sent out to Americans who are 60 and older. Receipt of the yearly statement provides an opportunity to verify earnings figures against tax records so that errors can be corrected.īut mailings of paper earnings statements were suspended in April for budgetary reasons. This document provides a chronology of an individual’s earnings history and helps people estimate the amount of monthly retirement, survivor and disability benefits available if eligibility is triggered. Most Americans are familiar with the annual benefits statement they receive from the SSA a few months before their birthday. These abrupt departures from long-established practice will have implications for Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) recipients. The Social Security Administration (SSA) recently announced plans to stop mailing annual benefits statements and phase out paper checks for payment of all federal benefits. Social Security Administration Going Paperless for SSDI and SSI Payments
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