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.
In 2001 First-Class Mail (FCM) hit an all-time peak of 104 billion pieces. Fast forward to today and it is down more than 40 percent.
Well, if you’re a reader of this blog, you also know that despite this, First-Class Mail remains the biggest provider of revenue and contribution (profit...Read More