Social Security COLA and legislative relief proposals

Social Security beneficiaries may see a cost-of-living adjustment (COLA) of approximately 3.6% in 2027, according to a projection by The Senior Citizens League. If realized, this would increase average monthly benefits by about $69.75, raising the average from $1,937.53 to $2,007.28. The official announcement from the Social Security Administration is expected on October 14, based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from July through September.

Separately, a legislative proposal known as the Social Security Emergency Inflation Relief Act, introduced by Senator Elizabeth Warren, seeks to provide additional financial relief. The bill proposes a $200 monthly increase for Social Security recipients, Supplemental Security Income (SSI) recipients, railroad retirement beneficiaries, and certain veterans. This proposed amount would be in addition to any official COLA adjustment. The legislation currently remains in the Senate Finance Committee.