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  • Your Social Security Benefit Statement May Be Wrong

    SSCard_dark textThis summer, reporters with Forbes and USA Today discovered that Social Security had mailed out thousands of incorrect benefit statements to prospective recipients. A number of those who asked for information on their account via a paper form, known as SSA-7004, between 2017 and now, received benefit statements that were off by as much as hundreds of dollars.

    According to the Social Security Administration, the mistakes were isolated to some, but not all On Request Statements sent to the following people.

    -Those who were born in 1955, 1956, or 1957.

    -Those who were age 62 or older at the time of their request.

    -Those who indicated on the SSA-7004 that they planned to stop working at age 66.

    The Social Security Administration states that they stopped issuing SSA-7004 statements in late June, but will soon resume now that the system has been fixed and consumers have been sent corrected statements.

    What Can You Do:

    If you are concerned about this happening again, or think you received a faulty statement that was not corrected, there are a number of simple actions you can take to double-check the accuracy of your statement. If you have ordered an On Request SSA-7004 statement within the last 2 years, be sure to either cross-reference your most recent statement with past statements you may have received or check your earnings statement with your W-2 forms from past IRS filings. You should also create an online Social Security account and view those estimates, make your own calculations, or have it looked at by a financial expert.

    How to get your Social Security statement online

    How to request a statement if you can’t or don’t want to get an online statement

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    WISER

    About Us

    WISER is a nonprofit organization that works to help women, educators and policymakers understand the important issues surrounding women's retirement income. WISER creates a variety of consumer publications including fact sheets, booklets and a quarterly newsletter that explain in easy-to-understand language the complex issues surrounding Social Security, divorce, pay equity, pensions, savings and investments, banking, home-ownership, long-term care and disability insurance.

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