Social Security COLA: Benefits for 2 million people could pass the $1,000 a month mark

The Senior Citizens League estimates that the Cost of Living Adjustment for 2027 will be 3.6%. This figure represents an increase of 0.8 percentage points compared to the current year's rate of 2.8%. As a result of this projected Social Security COLA, benefits for approximately 2 million people could finally surpass the $1,000 per month threshold. These projections highlight a significant upward trend in monthly payments for a substantial group of Social Security recipients.