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How a cutback in Social Security statements could add to retirement woes

Maybe it's seeing the figures in black and white, but people who rely on the Social Security paper statements as part of their planning process tend to retire later.

By Marlene Y. Satter | Updated on April 14, 2017
Maybe it's seeing the figures in black and white, but people who rely on the Social Security paper statements as part of their planning process tend to retire later. (Photo: iStock)

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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