The 7 Worst States for Private Retirement Income

October 16, 2019 by Allison Bell

The Census Bureau has come out with new retirement income survey data for 2018.

One thing the survey has shown: Many retiree households are making do solely with Social Security benefits. They have no pension income, and no individual annuity income.

The percentage of each state’s households collecting Social Security benefits ranges from 23%, in Alaska, up to 42%, in West Virginia.

The percentage of households receiving some kind of private retirement income is only about half that.

We came up with a rough measure of the private retirement income penetration gap, by dividing the percentage of each state’s households with private retirement income by the percentage with Social Security income.

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Originally Posted at ThinkAdvisor on October 1, 2019 by Allison Bell.