This week marks the 79th anniversary of Social Security, and the North Carolina Alliance for Retired Americans is marking the occasion with a new report on the economic impact of those benefits in our state.
Here are ten quick facts from that report, Social Security Works for North Carolina.
• Social Security provided benefits to 1,907,394 North Carolinians in 2013, 1 in 5 (19.4 percent) residents.
• North Carolinians received Social Security benefits totaling $26.6 billion in 2013, an amount equivalent to 7 percent of the state’s total personal income.
• Social Security lifted 810,000 North Carolinians out of poverty in 2012.
• Social Security provided benefits to 1,255,185 North Carolina retired workers in 2013, two-thirds (65.8 percent) of beneficiaries.
• The typical benefit received by a retired worker in North Carolina was $15,179 in 2013.
• Social Security lifted 559,000 North Carolinians aged 65 or older out of poverty in 2012.
• Without Social Security, the elderly poverty rate in North Carolina would have increased from 1 in 9 (10.4 percent) to half (52.6 percent) [Figure 2].
• Social Security provided disability benefits to 332,799 North Carolina workers in 2013, 1 in 6 (17.4 percent) North Carolina beneficiaries [Figure 1].
• Social Security is more important to North Carolinians living in rural or non-metropolitan counties than to North Carolinians living in metropolitan counties. One-quarter (24.2 percent) of rural North Carolinians received Social Security in 2012, compared with 1 in 6 (18.2 percent) metropolitan North Carolinians.