| Estimates are undelivered or otherwise
uncashed benefit checks total one-half billion dollars
annually. The Social Security Administration readily
admits "no effort is made to locate and/or notify
owners." Returned checks are credited back to the
agency. Regarding those delivered but unnegotiated, SSA
asserts: "We do not know the (total) amount ...
(and) do not know what happens to checks which go
uncashed." The Social Security Administration is also responsible for another very substantial stockpile of unclaimed money. In 1987, the General Accounting Office reported 10 million retirees were underpaid benefits because $59 billion in earnings had not been credited to their accounts. In 1996, SSA revealed its "Suspense File" of uncredited earnings and unpaid benefits attributable to clerical errors and reporting mistakes had grown to $200 billion, with over 200 million separate accounts affected! The current figure is well over $250 billion and 220 million accounts! For
assistance locating a Social Security check or benefit
that went uncashed or was never received go to:
Social Security
Benefit Search |
| Special Note: Given $30+ billion per year in benefit underpayments and SSA's admission that "efforts to reduce suspense file items were not current," workers should verify proper posting by regularly checking their Social Security Statement (formerly known as "PEBES" - Personal Earnings and Benefit Estimate Statement). |
| © 1996 - 2008 National Unclaimed Property
Associates Terms of use / Sitemap / Contact us |
Unclaimed
Asset Search HOME To Search for other unclaimed money click above |
Copyright strictly enforced. We are not affiliated with any other agency or organization. |