Make the Switch to Direct Deposit for Federal Benefits
U.S. Treasurer Rosie Rios started a "countdown clock" recently to began the official countdown to March 1, 2013 -- the date by which all federal benefit recipients must receive their Social Security and other federal benefit payments electronically through direct deposit.
According to the U.S. Treasury Department
, about 90% of Social Security and Supplemental Security Income (SSI) payments are being made electronically, and Rios said the Treasury is "urging the remaining 10% of federal benefit recipients who still receive a paper check to make the switch to electronic payments as soon as possible."
It's a move that would save taxpayers $1 billion over ten years. "The sooner everyone makes the switch, the sooner we'll realize those benefits," she added. (News Now
, 03/05/12) Direct deposit is also a safer and more reliable way to receive benefits.
Make the switch at GoDirect.org
or by phone to the Treasury Electronic Payment Solution Center
at 1-800-333-1795. Coosa Pines members may call or visit a local branch for assistance.