Are your employees setting aside enough for their retirement? As part of the payroll process, employees and their employers are setting aside something every payroll payroll period as both parties contribute to the employees’ social security account. These contributions have been made for an individual’s entire working life. But is it enough to support those individuals when they retire?
The Social Security Administration has developed on on line system to help individuals discover how much they can expect to receive in benefits after they retire. The program is called my Social Security. It will allow employees to log-in to their Social Security account to see how much has been contributed and how much in monthly benefits they can expect to receive once they stop working.
With a my Social Security account you can:
- Get your online Social Security Statement;
- Verify your lifetime earnings;
- See estimates of your future benefits;
- Manage your benefits; and so much more
Ten-thousand people reach retirement age daily. Many are unprepared as, in general, Americans are not saving enough for that “someday” when they will retire. Most don’t have pensions and must depend on Social Security for most of their retirement income. The Social Security Administration is encouraging employers to help educate their employees to plan now by opening a personal my Social Security account at socialsecurity.gov/myaccount so that they can see what they will need to do to prepare for those retirement years.
About Time & Pay:
Time & Pay is a professional payroll service provider located in Johnson City, TN. We service businesses of all sizes and types throughout the United States. Founded in 1992, Time & Pay provides businesses with complete payroll services , guaranteed payroll tax compliance, automated time and attendance systems and services, pay-as-you-go worker’s comp, human resource management systems and services, and more. We provide our customers with the cost effective tools you need to better manage your payroll, your employees and your business. Time & Pay’s services guarantee you will save money, time and aggravation and we back them up with the customer service you expect and deserve. Contact us today to learn why business owners throughout the country are saying:
“Time & Pay! Why would you do payroll and timekeeping any other way?”
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