AARP has been providing the nation with resources related to its aging population since 1958. Since then, it has been a first stop for those over 65 wishing to improve their health, financial status or general way of life.
In addition to providing articles and advice, the organization also produces a wealth of statistics that can offer senior citizens a better of idea of what the larger aging community is experiencing. In that regard, we here at Freedom Home Care are dedicating today’s blog to Social Security at the Illinois state level, care of AARP.
Illinois’ 65-plus population is expanding.
In 2010, Illinois’ population was 12.9 million with 13 percent being age 65 and older (1,622,000) residents. In 2015, the 65-plus population will make up 14 percent of the state’s population, and in 2030, it will be 18 percent.
Illinois ranks 11th in income level among the states.
The average personal income in Illinois was $43,159 in 2010. Illinois’ per capita income (11th) ranks higher than Minnesota (13th) and other Midwestern states.
One in six Illinois residents receives Social Security.
The Social Security program not only provides monthly benefits to retired workers but also to families when the worker retires, dies or becomes disabled. In 2010, over 54 million Americans received Social Security benefits; of these, 2,033,345 lived in Illinois.
In 2010, one in six Illinois residents received Social Security. While 66 percent of beneficiaries are retirees, 34 percent are not: 174,200 are widows and widowers; 274,692 are people with disabilities; 160,257 are children; 87,699 are spouses.
Social Security pumps over $27 billion into Illinois’ economy.
In 2010, Illinois residents received $27.5 billion from Social Security. The average yearly Social Security benefits for an Illinois retiree in 2010 was $14,327 – or about $1,194 a month.
Nearly all Illinois residents age 65 or older receive Social Security.
Over 17 percent of all people receive Social Security benefits; in Illinois, 16 percent of residents do. However, older people are more likely to receive the benefit, with 92 percent of those ages 65 and over receiving it nationwide, and 90 percent of older Illinois residents receiving it.
Social Security lifts more than one-third of retirees from poverty.
In 2009, more than one-third (35%) of the nation’s older population would be living in poverty if they were not receiving Social Security. In Illinois, 40 percent of the state’s 65-plus population would have incomes below the poverty line if they did not receive Social Security.
Social Security is the only source of income for three in 10 in Illinois residents age 65 and up.
Social Security makes up 50 percent or more of the income for three in five Illinois residents age 65 and older. Three in 10 older Illinois residents rely on Social Security as their only source of income.