Social Security benefits play a critical role in the financial well-being of retired workers across the United States.
As of January 2024, the average retirement payout stood at $1,907, with some individuals receiving a maximum benefit of $4,873.
Average Retirement Payout and Maximum Benefits
But where do these benefits flow most abundantly? GOBankingRates delved into data from the Social Security Administration to uncover which states are the primary recipients of these crucial funds.
1. California
Topping the charts is California, with a staggering total Social Security payout of $10.4 billion, reaching an extensive network of 6,251,295 recipients.
2, Florida
Florida claims the second position, receiving $8.5 billion in Social Security funds, aiding a considerable 4,986,213 beneficiaries.
3. Texas
Texas takes the third spot on our list, with a significant payout of $7.5 billion, providing essential support to 4,568,465 recipients.
4. New York
In the Empire State, Social Security benefits amount to an impressive $6.44 billion, supporting a sizable population of 3,710,827 beneficiaries.
5. Pennsylvania
Pennsylvania boasts a substantial Social Security payout of $5.1 billion, benefiting 2,898,240 individuals.
6. Michigan
Michigan secures the sixth position, with a total Social Security benefit of $4.01 billion, distributed among 2,269,413 recipients.
7. Ohio
Ohio stands shoulder to shoulder with Illinois, also receiving $3.99 billion, but supporting a larger population of 2,427,966 beneficiaries.
8. Illinois
With a total payout of $3.99 billion, Illinois takes the eighth spot, aiding 2,285,265 individuals.
9. North Carolina
North Carolina follows closely behind, receiving $3.8 billion in Social Security funds, benefiting 2,234,888 recipients.
10. Georgia
Georgia kicks off our list with a total Social Security payout of $3.21 billion, supporting 1,945,822 beneficiaries.
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The Impact of Social Security on Retirees Nationwide
These figures underscore the critical role Social Security plays in providing financial stability to retirees nationwide.
While these states lead in benefit receipt, it’s essential to recognize the broader impact of these funds on individuals’ lives, ensuring a secure retirement for millions across America.
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