Do You Live in One of These 15 States? Your Retirement Benefits Could Be Slashed by Over $500 a Month.

by Adi Gunawan 18 September 2026 3 min read 506x views

Do You Live in One of These 15 States? Your Retirement Benefits Could Be Slashed by Over $500 a Month.

A caller update from the Social Security Administration paints a grim picture.

By Jessica Thomas | edited by Brittany Robins | Aug 20, 2026

Key Takeaways

The Social Security Administration projects that payroll taxes will only beryllium capable to money 78% of Social Security benefits by 2032.
That could mean cuts to retirees’ monthly payments.
A caller study predicts which states could spot the steepest drop.

If you scheme to retire successful the adjacent decade, caller updates from the Social Security Administration (SSA) could mean your status benefits mightiness beryllium little than you expect.

According to a June update from the Social Security Board of Trustees, the SSA projects that the Old-Age and Survivors Insurance (OASI) spot money reserves will beryllium depleted successful the 3rd 4th of 2032, pinch 78% of benefits payable astatine that time.

According to the Committee for a Responsible Financial Budget (CRFB), that intends benefits will request to beryllium reduced by an estimated 22% by 2033 “to guarantee the program’s costs do not transcend its revenues.”

Just really overmuch little your retirement benefits mightiness beryllium depends heavy connected your income. The CRFB estimates that a emblematic dual-income mates could spot their benefits slashed by $16,900 per year. Across each 50 states and the District of Columbia, the CRFB predicts that monthly use cuts would magnitude to $500 connected average.

According to a MoneyLion study via Yahoo Finance, retirees successful definite states could consciousness the nonaccomplishment much than others. These 15 states person the highest mean Social Security payments, and truthful could spot the biggest cuts arsenic soon arsenic 2033. Here’s really overmuch retirees successful these states could guidelines to lose:

Connecticut: $556 per month
New Jersey: $554
New Hampshire: $554
Delaware: $549
Maryland: $541
Washington: $531
Minnesota: $530
Massachusetts: $527
Michigan: $523
Utah: $523
Virginia: $522
Kansas: $520
Pennsylvania: $519
Rhode Island: $519
Vermont: $516

Key Takeaways

The Social Security Administration projects that payroll taxes will only beryllium capable to money 78% of Social Security benefits by 2032.
That could mean cuts to retirees’ monthly payments.
A caller study predicts which states could spot the steepest drop.

If you scheme to retire successful the adjacent decade, caller updates from the Social Security Administration (SSA) could mean your status benefits mightiness beryllium little than you expect.