Mary Johnson and The Senior Citizens League project a mid-3% cost-of-living adjustment for Social Security in 2027
The Social Security Administration is scheduled to announce the official 2027 cost-of-living adjustment (COLA) on Oct. 14. Current projections from independent analyst Mary Johnson and advocacy group The Senior Citizens League suggest a benefit increase in the mid-3% range, which would exceed the 2.8% boost received in 2026. These estimates are influenced by sustained inflation, particularly rising energy costs from Middle East conflicts and the impact of the Iran war. Additionally, the administration announced a new wave of global tariffs and trade policies endorsed by Trump that are contributing to inflationary pressure. While the final figure is not yet determined, a 3.4% to 3.6% increase would provide a significant boost to retirees. For example, a 3.5% average increase would raise the average monthly retired-worker benefit to approximately $2,159. Analysts note that while the COLA helps offset rising costs, the Social Security trust fund faces potential insolvency by 2032, necessitating future legislative action to ensure long-term sustainability.
Sources
-
Social Security recipients need to remember this important date
FOX 8 News
-
Here's when the Social Security COLA update is expected to be released
USA Today
-
One of Social Security's Most Important Dates Is Less Than 2 Months Away. Here's What Retirees Can Expect.
AOL.com
-
How much will your 2027 Social Security COLA be?
The News Journal
-
Here's How Much Social Security's Trump Bump-Driven 2027 COLA Is Projected to Boost Benefits
Yahoo Finance