The 2027 cost-of-living adjustment (COLA) could push Social Security benefits to a record high for married seniors.
Per the Senior Citizens League, the projected COLA for 2027 is 3.6%, 0.8 percentage points higher than this year’s 2.8% and a figure that would raise the average retirement benefit to $2,161 a month. In turn, it’ll increase the spousal benefit to $1,080.
Not too shabby for retirees.
Roughly 2 million people receive spousal benefits, which average $986 a month, and the 2027 cost-of-living adjustment could push that figure beyond the $1,000 a month mark.
As COLA is a percentage of the current benefit amount, the exact increase hinges…
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