For clients who are approaching retirement, one of the most important documents to save and evaluate is the annual Social Security Statement, which traditionally has arrived in clients' mailboxes shortly before their birthdays.
However, in a terse online statement, Social Security has announced that: "In light of the current budget situation, we have suspended issuing Social Security Statements." http://www.ssa.gov/mystatement
Recently, Social Security Commissioner Michael Astrue announced that his administration is working to make the statements available online by the end of 2011. However, this solution has been tried before and it did not work, due mainly to security and privacy concerns.
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This uncertainty surrounding the statements makes it even more important for you to urge clients to save (and make a back-up copy of) the last Social Security Statement they received. The statement shows a complete record of all contributions into Social Security, and it also estimates benefit payments at different start dates.
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