Oregon Has the Most Retirees of Any Western State
Oregon is home to the oldest residents of any state in the West, with nearly one in five of its population above 65 years.
Most Social Security Recipients are Retirees
With nearly one in five residents aged 65 and older, most state Social Security recipients are retirees who receive an average of $1,872 each month.
Residents 65 years and older comprise 80% of the one million Oregonians who collect Social Security. The bulk of the other recipients are workers or families receiving disability benefits.
Retirees comprise the biggest Social Security sector with the population in Oregon doubling since 2000, to 729 000 people. Retirees represent 17% of the state’s population.
Curry and Wheeler are rural counties with the most retirees dependent on Social Security.
Although Multnomah County is home to the youngest population in the state, because of its large size residents of Multnomah collect the largest slice of Social Security benefits at $235 million every month.
Social Security Payments are the Biggest Contributions to Oregon’s Economy
Social Security payments of $1.7 billion monthly are the biggest contributions to Oregon’s economy.
The number of residents receiving Social Security has quadrupled since the beginning of the century, making the federal government subsidy one of Oregon’s biggest economic contributors.
Last week, it was announced that Social Security payments will increase by 2.5% in 2025 to account for cost-of-living increases – an additional $48 s month to $1,918.87 for Social Security retirement, disability, and Supplemental Security Income programs.
Workers and employers pay 6.2% federal tax on wages to fund Social Security programs. The tax is applied to wages up to $176,100.
Oregon’s Social Security aggregate value of payments has been increasing for several reasons – inflation, population growth during the first two decades of this century, and because of the sharp increase in the number of retirees living in the state.