[Federal Register Volume 73, Number 93 (Tuesday, May 13, 2008)]
[Notices]
[Pages 27605-27606]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-10544]


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SOCIAL SECURITY ADMINISTRATION

[Docket No. SSA-2008-0002]


Retirement Estimator

AGENCY: Social Security Administration (SSA).

ACTION: Notice.

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SUMMARY: The Commissioner of Social Security gives notice that SSA 
intends to add a new calculator to its online Benefit Calculators 
suite. The Retirement Estimator will allow authenticated individuals to 
calculate estimates of potential retirement benefits in real-time, 
based in part on their SSA-maintained records and in part on user-
entered information, such as the last year of Social Security earnings. 
In addition to quick estimates of retirement benefits at specific 
points such as full retirement age, users may also submit a number of 
``what if'' scenarios based on information they provide regarding 
future earnings and retirement dates. The estimates can be printed and 
saved. The initial release of the Retirement Estimator will not reflect 
offset due to the Windfall Elimination Provision (WEP), or Government 
Pension Offset (GPO).
    SSA currently has four benefit calculators on its Web site-the 
Quick, Online, WEP and Detailed calculators (http://www.ssa.gov/planners/calculators.htm). The Quick Calculator provides a simple, 
rough estimate based on user-entered date of birth and current year 
earnings. For more precise estimates, the Online, WEP and Detailed 
calculators require that the user have access to his or her Social 
Security Statement in order to manually key each year of their lifetime 
earnings for use in the benefit computation. American Customer 
Satisfaction Index Surveys consistently indicate that less than 25% of 
users have their Statement available when using the calculators; 
therefore, 75% of users cannot immediately use the Online, WEP and 
Detailed calculators. The Detailed Calculator also requires downloading 
and installing software.
    In accordance with OMB Circular A-130 and OMB Memo M-04-04, E-
Authentication Guidelines for Federal Agencies, SSA conducted an 
authentication risk assessment. Based on the analysis of the Impact 
Categories and corresponding Assurance Level Impact Profiles, the 
Retirement Estimator was assessed at a medium level of risk (Level 2). 
There will be no disclosure of Personal Identifying Information that 
could lead to identity theft, no disclosure of address information that 
could facilitate physical harm, and no disclosure of earnings 
information from SSA records. Further, the source data cannot be 
reverse-engineered from the estimate. Based on the risk assessment, a 
knowledge-based authentication protocol will be used to match user-
entered information with SSA records in order to control access to the 
application. SSA consulted with privacy experts and added additional 
data matches in the authentication protocol and a ``block access'' 
feature that allows clients to prevent online access to their account.
    The Retirement Estimator calculator will provide a safe, user-
friendly and convenient tool that will: (1) Contribute to financial 
literacy by helping members of the public plan for retirement; (2) help 
to promote SSA's online benefit application; and, (3) save Agency 
resources.

DATES: The Retirement Estimator will be released to the public on July 
19, 2008.

FOR FURTHER INFORMATION CONTACT: Gerard R. Hart, Operations, Office of 
Electronic Services, Social Security Administration, 6401 Security 
Boulevard, Baltimore, MD 21235-6401, Phone 410-965-8707, e-mail 
[email protected]. For information on eligibility or applying for 
benefits, call 1-800-772-1213, or visit our Internet site, Social 
Security Online at http://www.socialsecurity.gov.


[[Page 27606]]


    Dated: May 7, 2008.
Michael J. Astrue,
Commissioner of Social Security.
 [FR Doc. E8-10544 Filed 5-12-08; 8:45 am]
BILLING CODE 4191-02-P