Social Security, other benefits checks to go paperless in May
New recipients of Social Security and other federal benefits will have to accept paperless payments only starting in May, the Treasury Department announced Tuesday.
The change will eventually impact about 136 million payments sent by the Social Security Administration, Department of Veterans Affairs, Railroad Retirement Board and Office of Personnel Management.
The move should cut about $48 million in government postage costs and save taxpayers approximately $303 million in the first five years after the switch, Treasury said. The change also should eliminate fears of lost or stolen checks and problems faced by displaced people.
Those already on Social Security will have until March 1, 2013 to make the switch to direct deposits or a debit card.
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| December 21, 2010; 10:00 AM ET
Categories: Agencies and Departments
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