Methodology: Unlike standardly available Census demographics, NeighborhoodScout uses dozens of custom models to transform 8.5 million raw demographic data elements from government sources into proprietary indices and insightsâ¦.
Benefit Payments and Direct Deposit. When your pension begins, you receive a benefit payment each month (unless you receive a mandatory cash-out payment or you have elected a voluntary cash-out of your benefit). You can elect payment by mail or through electronic direct deposit. We encourage benefit recipients to sign up for direct deposit.
Median Pension Benefit. In 2015, one out of three older adults received income from private company or union pension plans, federal, state, or local government pension plans, or Railroad Retirement, military or veterans pensions. The median private pension benefit of individuals age 65 and older was $9,376 a year. The median state or local government pension benefit was $16,742 a year. Table 10. Median benefit for persons age 65 and older with income from private pensions and annuities, public pensions, and veterans benefits.