WASHINGTON – Arizona’s senior U.S. Senator Kyrsten Sinema cosponsored the Know Your Social Security Act—bipartisan legislation that requires the Social Security Administration to mail Arizona workers over the age of 25 updates on their Social Security earnings and estimated benefits.
“Arizonans planning for retirement, no matter their age, deserve to receive updates on their Social Security earnings and estimated benefits,” said Sinema.
The Social Security Administration is required by law to issue paper statements with Arizonans’ earnings and estimated benefits; however, in recent years the agency has only issued these statements for Arizonans over 60 years old. The information in these annual statements helps Arizonans ensure their earnings are correctly being recorded, which guarantees they will receive the correct payment in retirement. By having this critical information, Arizona workers are also better able to make informed decisions when saving for retirement.
In March, Senators Sinema and Republican Senator Susan Collins (Maine) reintroduced their bipartisan Senior Security Act—legislation that creates a task force at the Securities and Exchange Commission to examine and identify challenges facing senior investors, protecting them from financial crimes and scammers, and safeguarding their financial futures. Every two years, in consultation with other partners, the task force will report its findings to Congress and recommend any regulatory or statutory changes.
