Don Nickles: “In 1989, Congress enacted legislation that requires that the Social Security Administration provide workers with regular…”

“In 1989, Congress enacted legislation that requires that the Social Security Administration provide workers with regular statements about the value of their Social Security benefits. SSA is required to send these forms--known as the Personal Earnings and Benefit Estimate Statements (PEBES)--to any eligible individual who requests one and was mandated to send an annual PEBES to each eligible workers over the age of 59 in 1995. In FY 2000, the Secretary will be required to send this form annually to all eligible workers over the age of 25--An estimated 123 million Americans are expected to receive this form in FY 2000. The SSA projects that the cost of administering this law in FY 2000 will be $80 million. These forms are specifically designed to help beneficiaries understand the value of their Social Security benefits. While I agree with the stated goal of the PEBES forms, I do not agree that the PEBES form in its current design meets the test of providing that information. In fact, I believe that in its current structure the PEBES form is misleading to beneficiaries.”