Retirement plan futures uncertain as funds expected to be depleted by 2035 CHICAGO (NewsNation) — Social Security’s cost-of-living adjustment or COLA, is projected to adjust for inflation for more than 74 million Americans in 2024. It’s the...
For 2026, the Senior Citizens League predicts a smaller cost-of-living adjustment for Social Security benefits compared to last year. They estimate that the COLA will be 2.1% in 2026, which is down from 2.5% in 2025 and 3.2% in 2024. While inflation has declined in the p...
The Social Security Administration sets its yearly COLA based on inflation during the third quarter, or from July through September. The agency takes the average inflation rate over that period from what's known as the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W,...
The projections make for grim reading, but lawmakers can shore up the program. Numerous potential fixes exist, ranging from reducing the annual cost-of-living adjustment (COLA) and increasing the full retirement age, to eliminating the Social Security wage ceiling and increasing the payroll tax. R...