Social Security's Trump Bump-Driven 2027 COLA Is Shaping Up as a Good-News/Bad-News Scenario
Outsize Social Security raises come with a silver lining for tens of millions of retirees, but also the potential for serious consequences.
On October 14, the United States Bureau of Labor Statistics is set to release the September inflation report, which will be the final component needed to determine and announce Social Security's 2027 cost-of-living adjustment (COLA). Every year, beneficiaries of Social Security, including retired workers, those with disabilities, and survivors of deceased workers, eagerly await the announcement.
The COLA is the annual raise given to Social Security recipients in response to inflation, which represents the rising cost of living. Since the introduction of the Consumer Price Index for Urban Wage Earners and Clerical Workers as the inflation measuring tool for Social Security in 1975, beneficiaries have received a raise in all but three years - 2010, 2011, and 2016. However, the COLA for next year is expected to include a unique factor: the "Trump bump."
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