While working on a post for later this week, I clicked over to the Social Security Administration (SSA)'s my Social Security website to log into my Social Security online account. When I got to the page, I discovered a banner announcing National my Social Security week.
I did some searching around to discover exactly what this announcement means, and I found a media kit explaining how the SSA will be celebrating National my Social Security Week with "events and activities ... to raise awareness about the benefits of having a my Social Security account and to encourage the public to sign up for their account..."
Why Sign Up For A my Social Security Account?As you may have noticed, the SSA stopped issuing paper statements several years ago. Previously, the annual paper statements included records of your income and estimates of your Social Security benefits. my Social Security replaces the paper statements with a free online account that allows you quick, convenient, and secure access to your personal Social Security record. You can use it for financial planning such as calculating life insurance needs and retirement planning, and to ensure that your work record has accurate figures. That's important because your benefits are based upon your work record.
Current BeneficiariesIf you already receive Social Security benefits, you can use my Social Security to get a benefit verification letter, request a replacement Medicare card, change your address and phone number, and start or change direct deposit information. You also can get a replacement form SSA-1099/SSA-1042S that’s used when filing taxes and shows you how much you received in Social Security benefits in the past year.
Protect Your InformationAnother reason to sign up for a my Social Security account now is to prevent someone else from fraudulently signing up for your account. This is currently a big issue for the Internal Revenue Service, and it could easily be a similar problem for other similar agencies. Taking the time now to secure your account could prevent problems in the future.