Electronic Payment Deadline of March 1, 2013
Wed March 7, 2012
Electronic Payment to be Required for Social Security Benefits
Officials with the U-S Treasury Department are trying to alert people who receive paper checks for Social Security benefits that they must switch to electronic payment by March first of 2013. Walt Henderson, the Director of the E-F-T Strategy Division of the U-S Treasury's Financial Management Service, says about fifteen percent of the recipients in Kentucky still receive paper checks and will need to make the change. Treasury officials say it costs about one dollar per check to package and mail a benefit payment, so they hope to save millions of dollars by going to all electronic payments. Dan Modlin has more on the story.........