If you’re not yet nearing retirement age, Social Security probably means two things to you: the amount of money that disappears from your pay checks and the annual statements that you get in the mail. If you’ve ever taken the time to read these statements, you’ve probably learned some neat things about your finances – like your lifelong earning history and the amount of Social Security benefits that you’d receive if you were to need them right now.
Well, Social Security’s changed its system. Yes, it’ll still be taking money from each of your paychecks; but, in the majority of cases, it won’t be sending you statements through the mail any longer. Now, you can create a My Social Security Account to get access to your Social Security information online. My Social Security will give you access to all the information that you had been getting in your statements, and setting up an account is easy: just visit http://www.ssa.gov/mystatement/ and click on “Sign in or Create an Account.”
The account set-up process takes about five minutes and is more secure than many other online services; expect to verify information from your credit report. When you sign up, you have the ability to add an extra layer of security, which will notify you by text message whenever someone logs into your account.
Once you’re in your account, you can explore your estimated benefits and earnings record or download a copy of your full Social Security Statement, which you can save to your computer and/or print. The Social Security Administration suspended the mailing of paper statement to most people in 2011, so the website is now the easiest way get access to your Social Security information.
Once your set up on My Social Security, make sure that logging in isn’t just a one time thing. You should check your statement every year to understand your changing Social Security taxes and benefits.
Contact our Ohio Tax Professionals
Think there’s some inaccurate information on your Social Security statement? Worried that you’re not paying the right amount? Contact Rea & Associates. Our Ohio tax team will review your records to make sure that you’re paying the right amount.