As the gradual retirement of the Baby Boomers places more people onto its rolls than ever before, the Social Security Administration (SSA) has been reducing services and shuttering field offices at a record clip, according to a report released Wednesday by a bipartisan Senate committee, reports CBS News.

The SSA has closed 64 field offices since 2010, including over two-dozen in just the last year, marking the largest five-year decline in service locations in the agency’s history, the Senate Special Committee on Aging notes. It has also reduced a number of in-person services, trying to shift seniors and other beneficiaries into an online system, and it has cut roughly 11,000 workers from its payroll in the last three years.

via Record cutbacks at Social Security as retirement claims surge – CBS News.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.