Disability Pensions

The average state retiree’s annual pension was $23,014 in January 2008.

In 1983, 62 percent of  American workers were  covered by a defined benefit retirement plan and 12 percent  had defined contribution plans.  By 2007, the numbers had flip- flopped, with 17 percent covered by defined benefit and 63 percent by defined contribution plans.

The average municipal retiree on the South Shore’s annual pension in 2008 was between $19,000 and $21,500. The average accidental disability retiree on the South Shore’s annual pension in 2009 was about $31,500.

Most private sector employees – about 55 million nationwide – rely on defined contribution retirement plans, in which they are responsible for managing their money and there is no guaranteed benefit, to supplement Social Security.