WASHINGTON (12/20/10)--Social Security’s most popular online service--the “Retirement Estimator”--is now available in Spanish, providing the same immediate and accurate retirement benefits estimates to Hispanics that it does for those using the English version (Social Security
Dec. 13). Almost four million people accessed the English-language version of the “Retirement Estimator” in 2010, and the Social Security Administration (SSA) expects the Spanish version will help Hispanics plan for their financial security. A 2009 study by the Hispanic Institute for Americans for Secure Retirement revealed that Hispanics on average are less likely than non-Hispanics to have an employer-sponsored retirement plan, putting them at a disadvantage for accumulating retirement income. The estimator has three key attributes:
* Secure: SSA consulted with privacy experts to make sure your personal information cannot be used by identity thieves. In addition, you can choose a “blocking” feature to prevent anyone else from estimating your retirement benefit. If you choose this feature, though, you cannot apply for benefits online. * Interactive: Once you key in the required information, you can change your “stop work” date or expected future earnings to test and compare different scenarios. * Accurate: The estimator automatically uses information from your Social Security statement to provide immediate retirement benefit estimates.
for the Spanish version, and socialsecurity.gov/estimator
for the English version. And for more information about retirement preparation, view the video “Investing in an IRA” in the Home & Family Finance Resource Center