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CNBC | Wednesday, March 19, 2025
The average Social Security payment in every U.S. state
Depending on your work history and other savings, Social Security income may be a crucial part of your retirement strategy. In fact, 77% of current retirees in the U.S. rely on Social Security income to make ends meet, according to a recent Bankrate survey. But not everyone gets the same amount. In Connecticut, for example, retirement beneficiaries receive an average payment of $2,114 a month, the most in the country, according to the latest available Social Security Administration data. Beneficiaries in Mississippi receive the lowest average payment of $1,756 a month. It’s worth noting that averages can be skewed by a small pool of beneficiaries receiving more or less than the bulk of recipients. In Alaska and New Mexico, for example, the average retiree benefit is more than $100 greater than each state’s median payment, which tends to be more representative of each place’s retiree population. While averages can be useful to get a picture of the Social Security payments in your state overall, your individual monthly retirement benefit depends on three major factors: 1. How long you work at jobs where you paid Social Security taxes, including self-employment 2.The income you receive during those years 3. The age you decide to start collecting benefits…Read more
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