Social Security's 2027 COLA Is Set for a Double Dose of History
Two rare events are on track to highlight next year's Social Security raise.
Overview
Making history and surpassing milestones is commonplace for America's leading retirement program, Social Security. Last year, Social Security celebrated its 90th anniversary, and the average monthly retired-worker benefit topped $2,000 for the first time.
In 2027, some of the more than 71 million people currently receiving a traditional Social Security benefit appear set for a double dose of history, courtesy of the program's cost-of-living adjustment (COLA). Social Security's COLA is essentially an annual raise given to beneficiaries to offset the effects of inflation (rising prices).
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Details
Source
Originally published at www.fool.com.
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