Goodbye paper statements…again. Two years after reinstating paper statements amid a firestorm of criticism for having ended them, the Social Security Administration is again pulling back on mailed statements. In a recent blog post, the agency announced it would mail fewer statements this year to reduce costs by as much as $11.3 million. Only individuals 60 years of age and older who aren’t receiving benefits and don’t have an online account will get paper statements, which provide information on a person’s earnings, estimated benefits, and contributions.
One small upside to losing 26 percent of mail volume and relaxing delivery service standards over the past decade is that the U.S. Postal Service should experience a significant decline in its costs as well. Except that hasn’t happened for transportation costs.
In fact, Postal Service...Read More