Here's What the Estimated 2027 Social Security COLA Could Do to Average Benefits in Your State
Written by Kailey Hagen for The Motley Fool -> The 2027 Social Security COLA is estimated to be 3.8%. States with higher average incomes will see their average benefits increase the most. You'll be able to determine your 2027 benefit once the Social Security Administration ann
States with higher average incomes will see their average benefits increase the most.
You'll be able to determine your 2027 benefit once the Social Security Administration announces the COLA in October.
An above-average Social Security cost-of-living adjustment (COLA) will likely be coming your way in a few months. The latest projection estimates the 2027 COLA will come in around 3.8%, according to The Senior Citizens League (TSCL), well above the 2.8% benefit boost you saw this year.
But since the COLA is a percentage, it doesn't affect all beneficiaries equally. Some seniors will receive larger dollar increases than others, and states with higher average incomes will also see their average benefits rise more significantly.
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Here's a closer look at what the estimated 2027 Social Security COLA could do for the typical benefit in your state.
Average Social Security benefits vary quite a bit by state. The table breaks down each state's average Social Security benefit as of December 2024, its estimated average benefit for 2026 with this year's 2.8% COLA factored in, and its estimated 2027 benefit, which assumes a 3.8% COLA.
Data source: Social Security Administration and author's personal calculations.
