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Social Security's 3.6% COLA will raise retirement benefits in 2027, but a projected 2032 trust fund shortfall could trigger 22% cuts without congressional action.
Congress has yet to address a looming funding shortfall that could leave the retirement program unable to pay 22 percent of scheduled benefits by 2032.
WASHINGTON -- The Social Security Administration projected Wednesday that the annual cost-of-living adjustment for older adults and people with disabilities will go up by 3.6% beginning in 2027, with some recipients complaining that is not enough to offset soaring prices.