MA Ranked 5th Best State in U.S. for Military Retirees
Monday, May 20, 2019
According to a recent study completed by WalletHub, Massachusetts is the 5th best state in the country for military retirees.
“Military retirement can be a far more complicated issue than one might assume, given the extent to which state tax policies on military benefits vary, the relative friendliness of different job markets toward veterans and other socioeconomic factors. In 2018, the military’s retirement system also changed for new recruits and current personnel who opted in, going from a “defined benefit” to a “Blended Retirement System” that awards funds not just based on years served but also matches contributions to a “Thrift Savings Plan,” writes WalletHub.
MA’s Rankings
- 1st - Economic Environment
- 49th Best - Quality of Life
- 2nd Best - Healthcare
- 47th - Least Affordable Housing
The Rankings
The top five states for Military retirees are:
1. Virginia
2. Florida
3. Maine
4. New Hampshire
5. Massachusetts
The worst state for military retirees is the District of Columbia.
See the full rankings below
The Method
In order to determine the best and worst states for military retirement, WalletHub compared the 50 states and the District of Columbia across three key dimensions: 1) Economic Environment, 2) Quality of Life and 3) Health Care.
They evaluated those dimensions using 29 relevant metrics, which are listed below with their corresponding weights.
Each metric was graded on a 100-point scale, with a score of 100 representing the most favorable conditions for military retirees.
WalletHub then determined each state and the District’s weighted average across all metrics to calculate its overall score and used the resulting scores to complete the rankings.
Economic Environment – Total Points: 33.33
- State Tax on Military Pension: Triple Weight (~5.26 Points)
- Tax-Friendliness: Full Weight (~1.75 Points)
- Share of Veteran-Owned Businesses: Full Weight (~1.75 Points)
- Dollars in Defense Department Contracts per Capita: Full Weight (~1.75 Points)
- Job Opportunities for Veterans: Triple Weight (~5.26 Points)
- State Authorization for Veterans’ Preference in Private Hiring: Full Weight (~1.75 Points)
- Veteran Job Fairs per 100,000 Veterans: Full Weight (~1.75 Points)
- Job Growth (2018 vs. 2017): Double Weight (~3.51 Points)
- Military Bases & Installations per 100,000 Veterans: Full Weight (~1.75 Points)
- Total VA Expenditure per Number of Veterans: Full Weight (~1.75 Points)
- Presence of State Help for Returning Veterans: Full Weight (~1.75 Points)
- Presence of Academic Credit for Military Service: Full Weight (~1.75 Points)
- Housing Affordability: Full Weight (~1.75 Points)
- Cost-of-Living Index: Full Weight (~1.75 Points)
Quality of Life – Total Points: 33.33
- Share of Veterans: Full Weight (~3.17 Points)
- Share of Veterans Not Receiving SNAP: Full Weight (~3.17 Points)
- Share of VA Benefits-Administration Facilities per Number of Veterans*: Double Weight (~6.35 Points)
- Quality of Public University System: Full Weight (~3.17 Points)
- Arts, Leisure & Recreation Establishments per Capita: Half Weight (~1.59 Points)
- Share of Population Aged 40 & Older: Full Weight (~3.17 Points)
- Share of Homeless Veterans: Double Weight (~6.35 Points)
- Idealness of Weather: Double Weight (~6.35 Points)
Health Care – Total Points: 33.33
- Number of VA Health Facilities per Number of Veterans*: Full Weight (~3.70 Points)
- Federal, State, Local & Private Hospitals per Capita: Full Weight (~3.70 Points)
- Quality of VA Hospitals: Triple Weight (~11.11 Points)
- Physicians per Capita: Full Weight (~3.70 Points)
- Mental Health Counselors per Capita: Full Weight (~3.70 Points)
- Veteran Suicide Rate: Full Weight (~3.70 Points)
- Presence of Veteran-Treatment Courts: Full Weight (~3.70 Points)
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