Social Security payments are given to retired workers to help them cover living costs after they stop working.
The amount a person receives depends on how much they earned during their working years and when they decide to retire.
If a person waits until they reach their full retirement age, they will receive a larger monthly check. However, workers can start receiving benefits as early as age 62.
In December 2023, the Social Security Administration (SSA) provided data showing how much money was given to retired workers in different states.
The average Social Security check varies by state, with some states offering higher payments than others. Let’s take a look at how much people in different states received in December 2023.
States with the Highest Average Social Security Payments
The highest average Social Security payment in December 2023 was in Connecticut, where retirees received an average of $2,113.55 per month. The payments in Connecticut varied from $1,975 in the northeastern part of the state to $2,319 in the western region, closer to New York City.
Here are some other states where retirees received more than $2,000 per month on average:
- Connecticut: $2,113.55
- New Jersey: $2,110.41
- New Hampshire: $2,094.43
- Delaware: $2,089.60
- Maryland: $2,054.45
- Washington: $2,021.79
- Minnesota: $2,015.58
- Massachusetts: $2,002.60
States with the Lowest Average Payments
On the other end of the scale, some states had lower average payments. For example, retirees in Mississippi received an average of $1,755.81, while those in Louisiana received $1,759.21. These states also have higher levels of senior poverty compared to other parts of the country.
How the Cost-of-Living Adjustment (COLA) Affects Payments
The Cost-of-Living Adjustment (COLA) is applied to Social Security payments to help people keep up with inflation. While the cost of living varies from state to state, the COLA is the same for everyone.
Starting in January 2024, a 2.5% COLA increase will be added to benefits, helping retirees deal with rising costs.
Average Social Security Payments by State in December 2023
The following list shows the average Social Security payments by state in December 2023:
- Alabama: $1,855.76
- Alaska: $1,837.49
- Arizona: $1,949.20
- Arkansas: $1,789.74
- California: $1,865.85
- Colorado: $1,957.84
- Florida: $1,893.70
- Georgia: $1,858.92
- Hawaii: $1,908.40
- Illinois: $1,934.05
- Louisiana: $1,759.21
- Massachusetts: $2,002.60
- Minnesota: $2,015.58
- Mississippi: $1,755.81
Social Security payments are an important financial resource for retirees. These payments vary based on factors like where someone lives and when they choose to retire.
While some states offer higher average payments, everyone will receive a COLA increase in 2024 to help offset rising prices. Understanding how these payments work can help you plan for retirement.
How is my Social Security payment determined?
Your Social Security payment is based on how much you earned during your working years and when you decide to retire. If you wait until your full retirement age, you’ll receive a higher payment.
Can I start getting Social Security benefits before my full retirement age?
Yes, you can start receiving benefits at age 62, but your payments will be lower than if you wait until your full retirement age.
Why do Social Security payments differ by state?
The average Social Security payment varies by state due to differences in local costs of living, income levels, and the number of retirees in each area.
What is the Cost-of-Living Adjustment (COLA)?
The COLA is an annual increase in Social Security payments to help retirees keep up with inflation. In 2024, a 2.5% COLA increase will be applied to benefits.
How can I check how much I’ll receive from Social Security?
You can check your Social Security statement online by creating an account at the Social Security Administration’s website. This will give you an estimate of your benefits based on your work history.
