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Race/Ethnicity
Beneficiaries Aged 60+ by Race & Ethnicity
Methodology »Released: March 2022
Next expected update: 2023
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.
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Year | Hispanic or Latino, any race | Non-Hispanic | ||
---|---|---|---|---|
White | Black | All other races | ||
2022 | 8 | 77 | 10 | 5 |
2030 | 11 | 73 | 10 | 6 |
2050 | 19 | 63 | 10 | 8 |
2070 | 24 | 56 | 10 | 10 |
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Race or ethnicity | Less than high school | High school | Associate | Bachelor's | Graduate |
---|---|---|---|---|---|
All | 9 | 32 | 23 | 22 | 14 |
Hispanic/Latino | 30 | 39 | 16 | 9 | 5 |
Black | 7 | 40 | 25 | 17 | 10 |
White | 4 | 29 | 25 | 26 | 16 |
All other races | 4 | 21 | 17 | 31 | 25 |
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Race or ethnicity | Social Security | Annuitized assets | Earnings | Co-resident income | Pension |
---|---|---|---|---|---|
All | 47 | 27 | 12 | 6 | 6 |
Hispanic/Latino | 52 | 16 | 12 | 12 | 4 |
Black | 54 | 17 | 11 | 8 | 6 |
White | 45 | 31 | 13 | 4 | 6 |
All other races | 43 | 28 | 13 | 9 | 5 |
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Race or ethnicity | Median, in 2021 dollars |
---|---|
All | 1,937 |
Hispanic/Latino | 1,541 |
Black | 1,755 |
White | 2,102 |
All other races | 1,997 |
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Race or ethnicity | Percent in poverty |
---|---|
All | 4 |
Hispanic/Latino | 6 |
Black | 8 |
White | 3 |
All other races | 4 |
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Race or ethnicity | Median, in thousands of 2021 dollars |
---|---|
All | 277 |
Hispanic/Latino | 106 |
Black | 101 |
White | 409 |
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.