As if there weren’t enough problems surrounding the whole issue of retirement, a new one is rearing its head: a cutback in statements from the Social Security Administration to workers.
That’s according to research by Barbara Smith, a senior economist at Social Security’s Office of Retirement, and Kenneth Couch, a professor at the University of Connecticut. Money reports that, in a paper being presented this week at a George Washington University seminar, the pair say that mailed statements from the SSA “had a significant effect on claiming behavior,” and that the cuts could make it less likely that people will wait to claim Social Security benefits till later in life.
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