Social Security for Alaska residents — here’s what you can expect:
- Retirement benefits
- Benefits for disabled workers and their dependents
- Benefits to the families of deceased workers
You may also be entitled to:
- Supplemental Security Income program (SSI) – a needs-based program for people ages 65+ and people with disabilities, regardless of age.
- Assistance if you are a Medicare beneficiary with limited income to apply for extra help with the cost of prescription drugs (Medicare Prescription Drug Program.)
Social Security: It’s tax free in Alaska
While the IRS may tax you on up to 85% of on Social Security benefits, all Social Security income is tax-free on your Alaska state income tax return —regardless of income or the size of your Social Security benefit.
What you need to know as an Alaska retiree:
- Alaska is very tax-friendly toward retirees.
- Social Security income is not taxed.
- Withdrawals from retirement accounts are not taxed.
- Wages are taxed at normal rates, and your marginal state tax rate is 0.0%.
- Public and private pension income are not taxed.
Find a Social Security Advisor that has the RSSA credential.
Advisors that are Registered Social Security Analysts can help you gain far more Social Security income by making the optimal claiming decisions. Our clients have realized from $20K to $200K in potential additional benefits. Contact us today for a complimentary 15-minute consultation with one of our RSSA advisors.