Introduction
Retirement income in the United States can differ significantly from state to state. For example, Social Security is a primary source of retirement income for many people, and it pays out different levels of benefits based on where you live. According to the Social Security Administration, Wisconsin has the highest average monthly benefit while Kentucky has the lowest. Many states also offer additional tax breaks for retired seniors. Some states are even exempting all retirement income from taxation; other states offer substantial tax credits to retirees living on fixed incomes. Furthermore, certain states have made investments into special pension funds that can provide supplemental income for retirees who worked within those state boundaries throughout their careers. Finally, many cities and counties also have their own public or private retirement plans which can provide an additional source of income for local retirees.
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