Social Security Snapshot

Illinois

Thinking about a retirement in the Land of Lincoln? Big cities, attractive towns, farmland, forests, rolling hills, rivers and wetlands highlight the landscape of the state; and Illinois is lucky enough to have four distinct seasons–and a broad economic base. Illinois exempts nearly all retirement income from taxation, including Social Security retirement benefits, pension income and income from retirement savings accounts. However, the state has some of the highest property and sales taxes in the country. Now’s the time to consult with a Social Security Advisor who is a Registered Social Security Analyst. They have the expertise to ensure you receive all of the social security income and benefits you’re entitled to — so you can live life to the fullest in this great mid-Western state.

Social Security for Illinois 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 not taxed in Illinois

While the IRS may tax you on up to 85% of on Social Security benefits, all Social Security income is tax-free on your Illinois state income tax return —regardless of income or the size of your Social Security benefit.

What you need to know as an Illinois retiree:

  • Illinois is tax-friendly toward retirees.
  • Social Security income is not taxed.
  • Withdrawals from retirement accounts are not taxed.
  • Wages are taxed at normal rates.
  • 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.

By submitting this form, you agree to receive communications from The National Association of Registered Social Security Analysts. You can opt out at any time. By submitting this form, you agree to NARSSA's Privacy Policy.