 |
|
|
|||||
|
|
August 19, 2004 North Dakotans Received Over a Billion Dollars in Social Security Payments in 2002 Annual payments to beneficiaries in North Dakota amounted to $1.056 billion in 2002, a 3.5 percent increase from $1.020 billion in 2001. The number of social security beneficiaries in North Dakota totaled 113,960 in 2002, a loss of 0.4 percent from 114,380 in 2001. “The drop in beneficiaries is, in part, a function of the decline in births that occurred during the Great Depression of the early 1930s. These individuals are now eligible for social security,” says Richard Rathge, State Data Center director. This month’s “Economic Briefs,” a monthly publication from the North Dakota State Data Center at North Dakota State University, focuses on social security issues in North Dakota such as beneficiaries, annual payments and average monthly benefit. Population projections suggest that the number of persons 65 years and older will grow significantly over the next 20 years. In 2002, the majority of social security beneficiaries in North Dakota were retired workers and their dependents. If the number of beneficiaries continues to follow the projected increase, annual social security payments to North Dakotans could increase significantly over the next few decades. Retired workers and their dependents comprised 72 percent of all North Dakota beneficiaries in 2002 and received $705 million in payments. Disabled workers and their dependents comprised 11 percent of all beneficiaries and received $110 million. Survivors comprised 17 percent of all beneficiaries in North Dakota and received $240 million. ### Source: Richard
Rathge, (701) 231-8621, richard.rathge@ndsu.nodak.edu
Click here for an Adobe Acrobat file of this publication. (420 Kb pdf) |
Market Advisor: |
|
North Dakota State University |
