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Most Important Financial Benefits For Retirees Offered By Each State

May 11, 2021 · Retirement Life

Michigan

– Social Security income and certain amounts of other retirement income are not subject to state tax

– No tuition fee at Northern Michigan University and Western Michigan University for residents aged 62 and older

– Residents 65 and older get discounts for hunting and fishing licenses

– 50-cent bus rides in Detroit; discounts for public transportation in other areas

A couple in a canoe on a calm lake surrounded by trees.
A senior couple paddles a wooden canoe across a misty lake, enjoying Minnesota’s peaceful retirement lifestyle.

Minnesota

– Seniors aged 62 and older receive tuition exemptions for for-credit courses at all state colleges

– $1 bus rides in Minneapolis/St. Paul during non-rush hours, full-price the rest of the time; paratransit for $1.50 or $3, at various hours of the day, in Duluth

– Reduced lifetime hunting and fishing licenses for residents 51 and older

A senior woman relaxing on a porch swing with a drink.
A happy retiree relaxes on a porch swing with her dog while enjoying a Mississippi afternoon.

Mississippi

– Social Security, pensions, annuities, and other retirement income is exempt from state taxes

– No state sales tax is applied to prescription drugs and healthcare services

– Tuition exemptions for two courses a semester at Mississippi State University for senior citizens 60 and older; those 65 and older benefit from one course per semester through a lifelong learning program at the University of Mississippi

– Residents aged 60 and older benefit from free transportation for visits to the doctor, grocery shopping, and senior centers in the Gulfport-Biloxi area through Coast Transit Authority; low prices for transportation in Jackson for residents aged 60 and older

– Discounts for fishing, boat launch, and camping fees at state parks enjoyed by residents 65 and more

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One response to “Most Important Financial Benefits For Retirees Offered By Each State”

  1. min aung says:
    April 18, 2022 at 5:45 pm

    California impose tax on Social Security on mine.

    Reply

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