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What Trump’s Social Security Changes Could Mean for Retirees
Predicting the outcomes of a potential Trump victory in November regarding Social Security benefits has proven difficult. Confusion surrounds his proposed changes.
However, the Republican roadmap called Project 2025 suggests that Trump intends to raise the full retirement age from 67 to 69. A report by the Center for American Progress indicates that this could lead to a decrease in benefits ranging from 12.5% to 14.3% for new retirees once fully implemented.
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This adjustment would affect retirees across all income levels. Here, we focus specifically on upper-class retirees, analyzing the income thresholds in each state and projecting how benefits would change under Trump’s plan versus the current system.
Below are the projected Social Security benefits for upper-class retirees in each state if Trump wins in November.
Alabama
- Income threshold to be considered upper class: $119,348
- Percentage of residents who meet this threshold: 18.9%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
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Alaska
- Income threshold to be considered upper class: $176,242
- Percentage of residents who meet this threshold: 14.4%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
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Arizona
- Income threshold to be considered upper class: $149,136
- Percentage of residents who meet this threshold: 17.4%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Arkansas
- Income threshold to be considered upper class: $110,864
- Percentage of residents who meet this threshold: 18.9%
- Likely Social Security benefit per month at full retirement age in 2024: $3,696
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
California
- Income threshold to be considered upper class: $183,192
- Percentage of residents who meet this threshold: 19.6%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Colorado
- Income threshold to be considered upper class: $178,604
- Percentage of residents who meet this threshold: 17.2%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
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Connecticut
- Income threshold to be considered upper class: $175,858
- Percentage of residents who meet this threshold: 19.5%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Delaware
Understanding Upper-Class Income Thresholds Across the U.S.
Explore how different states define the upper class and the expected Social Security benefits in 2024.
Florida
- Income threshold to be considered upper class: $138,606
- Percentage of residents who meet this threshold: 18.5%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Georgia
- Income threshold to be considered upper class: $145,674
- Percentage of residents who meet this threshold: 18%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Hawaii
- Income threshold to be considered upper class: $184,916
- Percentage of residents who meet this threshold: 17.3%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Idaho
- Income threshold to be considered upper class: $145,570
- Percentage of residents who meet this threshold: 14.9%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Illinois
- Income threshold to be considered upper class: $153,416
- Percentage of residents who meet this threshold: 18.4%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Indiana
- Income threshold to be considered upper class: $133,570
- Percentage of residents who meet this threshold: 16.6%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Iowa
- Income threshold to be considered upper class: $139,176
- Percentage of residents who meet this threshold: 16.4%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Kansas
- Income threshold to be considered upper class: $137,850
- Percentage of residents who meet this threshold: 17.3%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Kentucky
- Income threshold to be considered upper class: $118,682
- Percentage of residents who meet this threshold: 19.2%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Understanding Upper-Class Income Thresholds Across the U.S.
Each state has its own criteria for defining what it means to be part of the upper class. Here’s a look at the income thresholds and Social Security benefits projected for full retirement age in various states.
Louisiana
- Income threshold to be considered upper class: $110,832
- Percentage of residents who meet this threshold: 20.8%
- Likely Social Security benefit per month at full retirement age in 2024: $3,694
- Likely benefit per month at full retirement age (69) under Trump plan: $3,165-$3,233
Maine
- Income threshold to be considered upper class: $139,086
- Percentage of residents who meet this threshold: 16.6%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Maryland
- Income threshold to be considered upper class: $189,982
- Percentage of residents who meet this threshold: 18.4%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Massachusetts
- Income threshold to be considered upper class: $188,976
- Percentage of residents who meet this threshold: 19.9%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Michigan
- Income threshold to be considered upper class: $133,972
- Percentage of residents who meet this threshold: 18.2%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
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Minnesota
- Income threshold to be considered upper class: $164,676
- Percentage of residents who meet this threshold: 16.8%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Mississippi
- Income threshold to be considered upper class: $105,438
- Percentage of residents who meet this threshold: 19.3%
- Likely Social Security benefit per month at full retirement age in 2024: $3,515
- Likely benefit per month at full retirement age (69) under Trump plan: $3,012-$3,075
Missouri
- Income threshold to be considered upper class: $129,622
- Percentage of residents who meet this threshold: 18%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Montana
- Income threshold to be considered upper class: $135,262
- Percentage of residents who meet this threshold: 16.1%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
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Nebraska
- Income threshold to be considered upper class: $139,164
- Percentage of residents who meet this threshold: 17.6%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
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Income Milestones: Understanding Upper Class Status Across States
Nevada
- Income threshold to be considered upper class: $144,666
- Percentage of residents who meet this threshold: 17.1%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
New Hampshire
- Income threshold to be considered upper class: $179,984
- Percentage of residents who meet this threshold: 17.6%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
New Jersey
- Income threshold to be considered upper class: $192,692
- Percentage of residents who meet this threshold: 19.3%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
New Mexico
- Income threshold to be considered upper class: $119,452
- Percentage of residents who meet this threshold: 19.5%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
New York
- Income threshold to be considered upper class: $159,114
- Percentage of residents who meet this threshold: 20.9%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
North Carolina
- Income threshold to be considered upper class: $134,962
- Percentage of residents who meet this threshold: 18.6%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
North Dakota
- Income threshold to be considered upper class: $143,940
- Percentage of residents who meet this threshold: 17.7%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Ohio
- Income threshold to be considered upper class: $131,440
- Percentage of residents who meet this threshold: 18.7%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Oklahoma
- Income threshold to be considered upper class: $119,346
- Percentage of residents who meet this threshold: 18.6%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Oregon
- Income threshold to be considered upper class: $151,314
- Percentage of residents who meet this threshold: 17.7%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
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2024 Social Security Benefits: What to Expect Across Key States
As the year 2024 approaches, many are keen to understand how Social Security benefits may change and how these figures differ based on political policy proposals. Below is an overview of the anticipated benefits and income thresholds in select states.
Pennsylvania
- Income threshold to be considered upper class: $143,596
- Percentage of residents who meet this threshold: 19.1%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Rhode Island
- Income threshold to be considered upper class: $163,708
- Percentage of residents who meet this threshold: 17%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
South Carolina
- Income threshold to be considered upper class: $128,230
- Percentage of residents who meet this threshold: 18.1%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
South Dakota
- Income threshold to be considered upper class: $139,456
- Percentage of residents who meet this threshold: 16.3%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Tennessee
- Income threshold to be considered upper class: $130,508
- Percentage of residents who meet this threshold: 17.6%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Texas
- Income threshold to be considered upper class: $144,568
- Percentage of residents who meet this threshold: 19.3%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Utah
- Income threshold to be considered upper class: $178,336
- Percentage of residents who meet this threshold: 14.8%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Vermont
- Income threshold to be considered upper class: $147,982
- Percentage of residents who meet this threshold: 18.4%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Virginia
- Income threshold to be considered upper class: $171,746
- Percentage of residents who meet this threshold: 19.4%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
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Projected Upper-Class Social Security Benefits by State Under Trump’s Plan
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Washington
- Income threshold to be considered upper class: $182,612
- Percentage of residents who meet this threshold: 18.1%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
West Virginia
- Income threshold to be considered upper class: $108,658
- Percentage of residents who meet this threshold: 19.1%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Wisconsin
- Income threshold to be considered upper class: $141,992
- Percentage of residents who meet this threshold: 16.3%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
Wyoming
- Income threshold to be considered upper class: $140,084
- Percentage of residents who meet this threshold: 15.7%
- Likely Social Security benefit per month at full retirement age in 2024: $3,822
- Likely benefit per month at full retirement age (69) under Trump plan: $3,167-$3,234
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This article originally appeared on GOBankingRates.com: What an Upper-Class Social Security Check Would Look Like in Every State If Trump Wins in November
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