Friday, July 25, 2008

FDR SSSocial Security Launches Online Retirement Calculator

July 24, 2008 -- The Social Security Administration has launched an online calculator that will provide benefit estimates to help people plan for their retirement.

The Retirement Estimator at CLICK HERE is tied to a person's actual Social Security earnings record and eliminates the need to manually key in years of earnings information.

The calculator lets the user compare different retirement options. For example, a person can change retirement dates or expected future earnings. Individuals also can print out up to three different scenarios at one time, in addition to information about their benefits at age 62 (current age if older), full retirement age and age 70.

Best of all, the Retirement Estimator is secure. The only thing it provides online is retirement benefit estimates. It does not show the earnings record information on which the final benefit estimate was calculated, nor does it reveal other personal information.

“The Retirement Estimator is just one of many things we are doing to make more information and services people need available over the Internet,” Commissioner Astrue stated. “We recently unveiled a new home page at that reduces visual clutter and is easier to navigate. Since its release, we have received many positive comments. In the fall, we will introduce the public to our next initiative:

SSA Commissioner Michael Astrue said the agency will soon complete a total overhaul of its online retirement application to better handle the baby boomer wave. When complete, the new application will reduce the average filing time from 45 minutes to about 15 minutes

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Stephen Martinez

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