Social Security’s 2027 COLA: Retirees in These 10 States Will Get the Largest Raise Next Year

Key Points Social Security’s 2027 cost-of-living adjustment (COLA) will be announced in October, but the latest forecast suggests benefits will increase 2.7%. Retired workers in states with higher median Social Security benefits will generally receive larger cost-of-living adjustments (COLAs) in dollar terms next year. New Jersey has the highest median Social Security benefit in the country, so retirees in that state will generally receive the largest COLAs next year. The $23,760 Social Security bonus most retirees completely overlook › The Social Security program undergoes several important changes each year, but the most anticipated is the cost-of-living adjustment (COLA).