Social Security COLA Projections Are Slipping: What Retirees Need to Know Now
Retirees should still receive a decent-sized benefits boost.
Overview
We're approaching one of Social Security's most anticipated days: the announcement of the annual cost-of-living adjustment (COLA). The official COLA will be announced on Oct. 14, but organizations have been releasing predictions based on inflation and other economic data.
One noteworthy prediction comes from a senior advocacy group, The Senior Citizens League (TSCL). Right now, it's projecting that the 2027 COLA will be 3.5%. Although this would be the largest COLA since 2023, TSCL's COLA projections have been shrinking since May, which could be good or bad news.
Details
It could be good news because of why they're shrinking, or bad news because it means a smaller boost for Social Security recipients.
Source
Originally published at www.fool.com.