50+ Lifestyles

YOUR SOCIAL SECURITY Davenport, Iowa Office

By Linda Clayton-Powell
Social Security District Manager
Davenport, Iowa

myRA and my Social Security Can Help Secure your Retirement

Achieving financial security is an important part of enjoying a satisfying retirement.  Social Security has many tools to help you plan for your future. A great first step is to visit www.socialsecurity.gov/myaccount. With a my Social Security account, you will get immediate access to your personal Social Security Statement, your earnings record, and an estimate of your retirement benefits at age 62, at your full retirement age, and at age 70.  You can also verify your earnings are correct, since we base your future benefits on your earnings record.

When you open a my Social Security account, we protect your information by using strict identity verification and security features.  The application process has built-in features to detect fraud and confirm your identity.  Your personal my Social Security account can help you figure out how much more you might want to save for your future, but it can do a whole lot more.  For example, in the District of Columbia and several states, you can request a replacement Social Security card online — find out if you can at www.socialsecurity.gov/ssnumber.

In addition to using your personal my Social Security account, you can prepare for a secure, comfortable retirement by visiting www.myra.gov.  There, you will find myRA, a new retirement savings option from the Department of the Treasury for the millions of Americans who face barriers to saving for retirement.  myRA is a simple and secure way to help you take control of your future.

myRA makes it easy and affordable to start saving for retirement, even if you can save only a little bit right now.  It is designed for people who do not have a retirement savings plan through work, or lack other options for saving.  If you already have access to a retirement savings plan, such as a 401(k), learn more about that plan because it might offer matching contributions or other benefits.

myRA helps workers grow their money faster than they can with most traditional savings accounts, and there is no risk.  Since it is not tied to a particular employer, workers can hold on to their myRA account when they move from one job to another.

With your personal my Social Security and myRA accounts in place, you too can prepare to reap the joys of a financially secure retirement.  Learn more about all of your choices at www.socialsecurity.gov.

Taking Stock During Financial Literacy Month

April is Financial Literacy Month. Social Security is there to help secure your future, but savings should be the foundation of a bigger retirement plan.

Have you ever done business online? The convenience and safety of doing business online is another way we are meeting the changing needs and lifestyles of our customers. You can open your own personal my Social Security account within a matter of minutes and have access to your information at any time of day, from the comfort of your home or office.

With a my Social Security account, you can:

• Keep track of your earnings and verify them every year, which is important because we use your earnings, along with other information, to help determine your benefit amount and eligibility;
• Get an estimate of your future benefits, if you are still working;
• Get a letter with proof of your benefits, if you currently receive them; and
• Manage your benefits:
  • Change your address;
  • Start or change your direct deposit;
  • Get a replacement Medicare card; and
  • Get a replacement SSA-1099 or SSA-1042S for tax season.

If you live in the District of Columbia, Michigan, Nebraska, Washington,  Iowa, or Wisconsin, you may be able to replace your Social Security card online using my Social Security.  It is an easy, convenient, and secure way to request a replacement card online.

To take advantage of this new service option, you must:

• Have or create a my Social Security account;
• Have a valid driver’s license in a participating state or the District of Columbia (or a state-issued identification card in some states);
• Be age 18 or older and a United States citizen with a domestic U.S. mailing address (this includes APO, FPO, and DPO addresses); and
• Not be requesting a name change or any other changes to your card.

We plan to add more states, so we encourage you to check www.socialsecurity.gov/ssnumber throughout the year.
In April, Social Security celebrates National my Social Security Week.  The biggest day in that week is “Check Your Statement Day.” It is important that you check your Social Security Statement every year since we base your future benefits on your earnings record. Your Statement can help you plan for your financial future. We encourage you to go online to my Social Security to access your Statement whenever you wish to verify your earnings history or check your estimated future benefits.

One sure way to stay on top of your financial future: you can join the more than 23 million people who have opened their own my Social Security account at www.socialsecurity.gov/myaccount.