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Aging Baby Boomers Will Impact Social Security in N.D.

The average monthly Social Security benefit for a retired worker in North Dakota was $1,085 in 2009.

The number of Social Security beneficiaries in North Dakota totaled 118,493 in 2009 (latest figures available), which was 18 percent of the state’s total population.

This month’s “Economic Brief,” a monthly publication from the North Dakota State Data Center at North Dakota State University, focuses on Social Security in North Dakota by examining beneficiaries, annual payments and average monthly benefits.

The majority of the Social Security beneficiaries (72 percent) in 2009 were retired workers and their dependents who received $986 million in payments. Survivors were 15 percent of all beneficiaries and received $287 million. Disabled workers and their dependents made up 13 percent of all Social Security beneficiaries in North Dakota and received $182 million.

The average monthly Social Security benefit for a retired worker in North Dakota was $1,085 in 2009, which is a decrease of 0.3 percent from 2008 after adjusting for inflation.

During the past couple of decades, Social Security beneficiaries in North Dakota have remained a relatively consistent proportion of the state’s total population (18 percent since 1990). However, during the next five to 10 years, baby boomers (people born between 1946 and 1964) will begin leaving the work force and entering retirement.

“With the leading edge of the baby boom turning 65 this year, we will see a dramatic increase in the number of North Dakota residents receiving Social Security,” says Richard Rathge, State Data Center director. “These payments will boost local economies and collectively continue to fuel our state’s very robust economy.”


NDSU Agriculture Communication

Source:Richard Rathge, (701) 231-8621, richard.rathge@ndsu.edu
Editor:Rich Mattern, (701) 231-6136, richard.mattern@ndsu.edu
Attachments
Social Security Statistics by State Preview
(0317 economic brief.pdf - 379.03 Kb)
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