Projections by Demographic Group
Beneficiaries Aged 60+ by Race & EthnicityMethodology »
Released: March 2022
Next expected update: 2024
DEFINITION: Beneficiaries are all individuals receiving any type of Social Security benefit(s) under current law.
In 2050, we project that:
- The shares of beneficiaries identifying as Hispanic/Latino or all other races a will be larger than in 2022.
- Beneficiaries identifying as Black or Hispanic/Latino will have lower median levels of monthly benefits and household wealth, and higher poverty rates, than those identifying as White or all other races.
|Year||Hispanic or Latino, any race||Non-Hispanic|
|White||Black||All other races|
|Race or ethnicity||Less than high school||High school||Associate||Bachelor's||Graduate|
|All other races||4||21||17||31||25|
|Race or ethnicity||Social Security||Annuitized assets||Earnings||Co-resident income||Pension|
|All other races||43||28||13||9||5|
|Race or ethnicity||Median, in 2021 dollars|
|All other races||1,997|
|Race or ethnicity||Percent in poverty|
|All other races||4|
|Race or ethnicity||Median, in thousands of 2021 dollars|
|All other races||388|
SOURCE: Modeling Income in the Near Term, Version 8 (MINT8) microsimulation model using 2019 Trustees Report intermediate assumptions.
NOTES: Content is simplified for presentation. Refer to the MINT8 Projection Methodology for model details or the Table User Guide for definitions of racial/ethnic identifications, education levels, household income, and poverty.
The Black, White, and all other races subgroups are non-Hispanic.
a. Includes anyone identifying as a race or ethnicity other than Black, White, or Hispanic/Latino.