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Social Security COLA 2027: 10 states where retirees will get largest raise
AL.com • • business
Key Points:
- The official Social Security cost of living adjustment (COLA) for 2027 is expected to be announced on October 14, with projections indicating a 3.7% increase.
- Social Security benefits vary by state due to differences in lifetime earnings and claiming age, meaning retirees in some states will see larger dollar increases from the COLA.
- Retirees in the 10 states with the highest median Social Security benefits, including New Jersey, Connecticut, and Delaware, will receive the largest pay increases regardless of the exact COLA percentage.
- Many of these states with higher median benefits also rank among those with the highest median incomes, contributing to larger Social Security payments and subsequent COLA boosts.
- Migration patterns can affect state averages, but generally, states with higher average wages translate to higher Social Security benefits and bigger COLA dollar increases.
