EKB News

Every year, the government has to process about 600,000 claims for lost or stolen checks. More than 58 million retirees, disabled people and surviving family members receive Social Security or Supplemental Security benefits. Already eight out of 10 people getting federal benefits receive those payments electronically. Officials have settled on the dates when millions of people will no longer be able to get their Social Security and other benefit checks by mail. New recipients of benefits will have to accept paperless payments starting on May 1 of next year, three months later than first proposed. Those already on Social Security will have until March 1, 2013 to make the switch to direct deposits or a debit card. In response to public comments, the government has decided to allow people who are 90 and over and are still getting Social Security benefit checks to continue to receive their benefits the same way. The government estimates there are 275,000 people who fall into that category. Social Security will save $1 billion over the next decade from phasing out paper checks.