My column readers know that IRA expert Ed Slot and his colleagues are one of my main sources of information on the topic of retirement accounts. It is the latest business with the latest regulations and shares this expertise with clients and members of the media like me.
In addition to monthly reports on retirement accounts, Ed Slott and Co. also distributes monthly reports covering social security issues. These reports are prepared by Heather Schreiber, founder and president of HLS Retirement Consulting LLC. She has over 30 years of experience in the financial services industry and holds the prestigious Retirement Income Certified Professional (RICP) designation from American College.
As my readers know, I frequently write about social security issues and rely on social security experts for updates. Schreiber is a perfect expert and has proven to be a very reliable source of updates on social security issues.
When readers explain to me the unresolved social security issues, I discuss these issues with trustworthy social security experts, including Mr. Schreiber. She responds quickly with reliable feedback and backup information. She is the source of the next update on recent changes to social security policies and procedures.
In early 2025, the Social Security Administration (SSA) forecasts $800 million in cost savings and cost avoidance this fiscal year. Some savings are related to reducing paper notifications by moving to digital SSA 1099 and other forms and amending centralized printing, credit card usage policies.
However, according to the acting SSA commissioner, large-scale cost savings come from job freezes and overtime reductions. These changes are expected to reduce costs by $550 million the following year, with an estimated $150 million coming from “non-essential” IT contracts and employee travel reductions.
Unfortunately, some of the impacts of these changes may include longer waiting times, fewer representatives available, and poor quality of service. Accessing SSA support can be more difficult. Additionally, recent policies to prevent fraud may require you to prove your identity if you are unable to do so even after using an individual’s Social Security account.
New Field Office Procedures: As of April 2025, SSA Field Offices require a “scheduled only” system, with limited access to walk-in visits.
One of the purposes of SSA is to improve security. I hope this will lead to a reduction in fraud. As of March 12, 2025, SSA has introduced more stringent ID verification procedures. This requires a new two-factor authentication process. If an individual wants to change their direct deposit information and is unable to meet this requirement online, they will need to access the field office to complete the changes.
SSA requires almost all agency employees to work in the office five days a week to support in-person calibration requirements.
In response to accessibility concerns, SSA has committed to handling these in-person updates within one business day.
Starting April 15, 2025, individuals who are unable to apply for benefits using their “My Social Security” account must prove their identity at their local SSA office if they are applying for retirement, survivor or assistance (spouse or child) benefits.
Medicare, Disability and SSI Benefits applications are exempt from “face-to-face” identity prevention requirements and may complete the process over the phone.
Increased reliance on internet-based self-service portals and ongoing lack of staffing make face-to-face support even more difficult.
According to Schreiber, “Be prepared for these new requirements. Become familiar with your account and be familiar with new digital navigation. Early action is important to avoid delayed management and disruptions in benefits.”
Please continue writing to me when you are facing new issues related to new policies and procedures.
Elliot Raphaelson welcomes your questions and comments at rapelliot@gmail.com.
