This article takes a look at the 5 states with highest average social security payment. If you wish to check out our detailed analysis on decoding the social security dilemma, you may go to the 20 States with Highest Average Social Security Payment.
5. Maryland
Estimated Total Annual Benefits Paid: $16,624 (million)
Number of Retired Workers: 798,028
Average Social Security Check: $1,886.97/month
Maryland makes it to our list of top 5 states with the highest average social security payment per month. The average monthly social security check in the state is $1,886.97. Social Security benefits and 401(k) distributions are exempt from taxation in this state. However, other types of income are fully taxed. The state also has an estate and an inheritance tax.
4. Delaware
Estimated Total Annual Benefits Paid: $3,831 (million)
Number of Retired Workers: 182,497
Average Social Security Check: $1,901.54/month
In Delaware, the average social security check amounts to $1,901.54 per month. The Social Security Administration paid an estimated total of $3.831 billion in social security to its 182,497 retirees. Delaware is tax-friendly toward retirees. Social Security retirement benefits are not taxed in this state. Moreover, the state boasts some of the lowest property taxes in the country.
3. New Hampshire
Estimated Total Annual Benefits Paid: $5,154 (million)
Number of Retired Workers: 245,379
Average Social Security Check: $1,902.63/month
In New Hampshire, the average social security check for a retired worker is $1,902.63 per month. There are 245,379 retired workers in this state. Social security retirement benefits or other retirement income are not taxed in this state. However, dividends and interests are currently taxed, and will be phased out by year 2027. Property taxes in the state are quite high, while the state doesn’t have a sales tax.
2. Connecticut
Estimated Total Annual Benefits Paid: $11,744 (million)
Number of Retired Workers: 546,322
Average Social Security Check: $1,947.22/month
As of 2022, the estimated total benefits paid to retirees was $11.7 billion. The total number of retired workers receiving the checks was 546,322. Meanwhile, the average social security check adjusted for the 8.7% COLA of 2023, stands at $1,947.22 per month. The state isn’t tax-friendly towards retirees. All types of retirement income are taxed in the state, although Social Security is exempted for some seniors.
1. New Jersey
Estimated Total Annual Benefits Paid: $27,499 (million)
Number of Retired Workers: 1,274,772
Average Social Security Check: $1,954.04/month
New Jersey is the state that has the highest average Social Security check, amounting to $1,954 per month. SSA reports 1,274,772 retired workers in the state who have been paid an estimated total of $27.5 billion in social security. The state is moderately tax-friendly towards retirees. Social security benefits are not taxed in this state. Moreover, retirees having incomes from retirement accounts and pensions below $75,000 for single filers and $100,000 for joint filers, are subjected to low-income tax rates.
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