Lawmakers Revive Annual Social Security Statement Bill

The statement shows how much a worker has earned each year of their career; the worker's contributions to both Social Security and Medicare; and the worker's estimated Social Security retirement, disability and survivor benefits.

The statement "also tells workers how to ensure the accuracy of their earnings record so that in the future they will receive the correct Social Security benefit amount," the lawmakers said.

"Americans pay into Social Security out of every paycheck in exchange for a guaranteed benefit in their old age," Wyden said. "As younger Americans grow more doubtful about their chances for a secure retirement, this bill will provide them clear view of what their earned benefits will be. I am going to keep pushing to get this done with our bipartisan, bicameral coalition so Americans know Social Security will be there for them."

Added Larson: "All workers deserve to have a full understanding of what they're contributing to Social Security and what they can expect to receive. This will help workers, and especially millennials, plan for retirement."