2023 Social Security Payments: See How Much Benefits Retirees Receive On Average!

The 2023 Social Security payments for retired beneficiaries vary across the 50 U.S. states. In this article, read and find out how much benefits retirees receive on average!

The 2023 Social Security payments are the main source of finance for millions of Americans. Reports say 88% of retired beneficiaries depend on the 2023 Social Security payments, while 82% of individuals still employed believe that the payments will be a useful source of income upon retirement.

However, an article in The Motley Fool states that the 2023 Social Security payments vary significantly across the 50 U.S. states. Further reports say geography does influence the amount of 2023 Social Security payments the beneficiaries receive.

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Average Payments Across U.S.

According to an article in MSN, the Social Security Administration (SSA) publishes monthly reports that detail the average 2023 Social Security payments received by different groups of beneficiaries. For instance, last July, the average payment a retired beneficiary received was worth $1,838.58, while the spousal benefit was around $891.32.

In addition, the SSA also releases an Annual Statistical Supplement that breaks data down through geographic information. The 5 U.S. states where retired beneficiaries get the biggest 2023 Social Security payments are Connecticut, Delaware, Maryland, New Hampshire, and New Jersey.

On the other hand, the 5 U.S. states where retired beneficiaries get the smallest 2023 Social Security payments are Arkansas, Kentucky, Louisiana, Mississippi, and New Mexico. Lastly, the 5 U.S. states where retired beneficiaries receive 2023 Social Security payments that are close to the national average are Florida, Hawaii, North Carolina, Oregon, and Washington, D.C.

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