Here's What the Estimated 2027 Social Security COLA Could Do to Average Benefits in Your State
Seniors in all states are likely to see an above-average benefit boost next year.
Here's What the Estimated 2027 Social Security COLA Could Do to Average Benefits in Your State
Overview
An above-average Social Security cost-of-living adjustment (COLA) will likely be coming your way in a few months. The latest projection estimates the 2027 COLA will come in around 3.8%, according to The Senior Citizens League (TSCL), well above the 2.8% benefit boost you saw this year.
But since the COLA is a percentage, it doesn't affect all beneficiaries equally. Some seniors will receive larger dollar increases than others, and states with higher average incomes will also see their average benefits rise more significantly.
Details
Here's a closer look at what the estimated 2027 Social Security COLA could do for the typical benefit in your state.
Source
Originally published at www.fool.com.
