Washington, D.C. – Today, House Ways and Means Social Security Subcommittee Chairman John Larson (D-CT), Ways and Means Committee Member Vern Buchanan (R-FL), Senate Finance Committee Ranking Member Ron Wyden (D-OR), and Finance Committee Member Bill Cassidy, M.D. (R-LA) introduced the Know Your Social Security Act.
The legislation will clarify the requirement for the Social Security Administration (SSA) to mail an annual Social Security Statement to all workers ages 25 and older with covered earnings, who are not receiving Social Security benefits. Since Fiscal Year 2011 SSA has failed to mail annual Statements to these Americans, citing limited operating budgets, even though in 1989 and 1990 Congress enacted requirements for SSA to provide a Statement annually.
“Social Security is our nation’s foundation to a solid retirement. Americans who contribute to Social Security should receive an update every year so they know what benefits they are earning and can plan for their retirements. No matter what happens in the stock market, Social Security will always be there for them,” said Larson. “I’m proud to introduce this bipartisan, bicameral legislation alongside Ranking Member Wyden, Senator Cassidy and Congressman Buchanan.”Read Full Article