How Reliant Is Your State on Social Security?
Millions of older Americans rely on Social Security for their retirement income. That’s especially true in certain rural and Southern states, explains a Fingerlakes1.com article. It cites the results of a Retirement Living survey that ranked states based on Social Security reliance.
When ranking states based on how reliant residents are on Social Security income, West Virginia came in first, where one in ten dollars comes from Social Security. It was followed by Mississippi, Arkansas, Kentucky, Maine, Montana, Alabama, South Carolina, New Mexico, and Idaho.
On the flip side, the states least dependent on Social Security are Alaska, Connecticut, California, Massachusetts, and Washington, D.C.,came in at 50th.
The Seniors Trust is committed to improving the financial well-being of older Americans through the passage of the Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and ensure the long-term solvency of the Social Security program.
