Social Security's Trump Bump-Driven 2027 COLA Is Set to Do Something That Hasn't Been Witnessed in 30 Years
A history-making moment is on tap for America’s leading retirement program in 2027, courtesy of President Trump.
Overview
For the nearly 55 million retired workers who brought home a Social Security benefit in July, there are few events more anticipated than the annual cost-of-living adjustment (COLA) reveal, which is slated for Oct. 14.
Social Security's COLA is a near-annual raise given to beneficiaries to offset the effects of inflation. For instance, if a broad basket of goods and services regularly purchased by seniors rises in cost by 4% from the previous year, Social Security benefits would need to climb by the same percentage to avoid a loss of purchasing power.
Details
Since the Consumer Price Index for Urban Wage Earners and Clerical Workers became the program's inflation-measuring yardstick in 1975, Social Security recipients have received a COLA in all but three years (2010, 2011, and 2016).
Source
Originally published at www.fool.com.
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