State Statistics, December 2003

 

Virgin Islands

Program Data

Social Security

The Social Security program—Old-Age, Survivors, and Disability Insurance (OASDI)—provides monthly benefits to workers and their families when the worker retires, dies, or becomes disabled. The amount of the worker's retirement insurance (old-age) or disability benefit is based on the worker's level of earnings in employment or self-employment covered by the Social Security program. Monthly benefits are payable to retired workers at age 62 (with reduced benefits) or to disabled workers at any age. The benefit amount for an auxiliary or survivor beneficiary is based on a percentage of the worker's benefit. Auxiliary and survivor beneficiaries must generally meet an age, disability, or child care requirement.

A total of 47,053,140 persons received benefits for December 2003. This number included 29,547,530 retired workers, 4,898,040 widows and widowers, 5,867,460 disabled workers, 2,773,630 wives and husbands, and 3,966,480 children. Social Security beneficiaries represented 15.8 percent of the total population and 90.8 percent of the population aged 65 or older.

Retired workers received an average monthly benefit of $922; widows and widowers, $866 (nondisabled widows and widowers, $888); disabled workers, $862; and wives and husbands of retired and disabled workers, $450. Average benefits for children of retired, deceased, and disabled workers were $446, $603, and $254, respectively.

Monthly benefits for December 2003 totaled $39.6 billion. Of this amount, $28.7 billion was paid to retired workers and their spouses and children, $5.4 billion to survivors, and $5.5 billion to disabled workers and their spouses and children. Average and total monthly benefits include the 2.1 percent cost-of-living increase effective December 2003.

In the Virgin Islands, benefits were paid to 15,070 persons. This number included 9,760 retired workers, 1,200 widows and widowers, 1,210 disabled workers, 1,040 wives and husbands, and 1,860 children.

Retired workers in the Virgin Islands received an average of $804 per month; widows and widowers, $683; disabled workers, $860; and wives and husbands of retired and disabled workers, $372. Average benefits for children were $352 for children of retired workers, $510 for children of deceased workers, and $242 for children of disabled workers.

Monthly benefits for December 2003 totaled $11 million. Of this amount, $8 million was paid to retired workers and their spouses and children, $1 million to survivors, and $1 million to disabled workers and their spouses and children.

Earnings and Employment Data

Social Security

Nationally, in 2002, the latest year for which state data are available, an estimated 153.8 million persons worked in employment that was covered under the Social Security (Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI)) program. They earned $4.2 trillion in Social Security taxable earnings. Employees, employers, and the self-employed paid a total of $526 billion in Social Security taxes to the OASI and DI trust funds.

For 2002, earnings and employment data for the Virgin Islands is not available.

Medicare

Nationally, in 2002, the latest year for which state data are available, an estimated 157.5 million persons worked in employment that was covered under the Medicare (Hospital Insurance, or HI) program. They earned $5.1 trillion in Medicare taxable earnings. Employees, employers, and the self-employed paid a total of $149 billion in Medicare taxes to the HI trust fund.

For 2002, earnings and employment data for the Virgin Islands is not available.

SOURCE: The data are from the Social Security Administration's administrative files. Program data for Social Security are from the Master Beneficiary Record, 10 percent sample; earnings and employment data are from the Master Earnings File, 1 percent sample.