You may not have realized you weren’t getting this important document, but the House Ways and Means Committee recently passed the Know Your Social Security Act, which would require the government to resume mailing annual earnings Social Security statements to millions of workers 25 and older, the Washington Post reports.
Your Social Security statement provides information about your earnings records, estimated benefits and about how much you or your family would receive in disability, survivor or retirement benefits. This data (assuming there aren’t major changes to your benefits by the time you retire) is key in determining how much you need to save and invest for retirement. In November, the average monthly retirement benefit was $1,431.06. https://www.washingtonpost.com/business/2019/12/16/bill-resume-annual-social-security-statement-mailings-moves-forward-house/