00:00Social Security cost-of-living adjustment makes history, but still isn't enough.
00:06Social Security is on track for a historic cost-of-living adjustment, the biggest change in nearly 30 years.
00:13However, even with this increase, many retirees won't feel the relief.
00:18For more than 85 years, the program has been a financial safety net for older Americans.
00:22With inflation and health care costs rising, October's COLA announcement is especially crucial for the 53.3 million retired worker beneficiaries, who depend on Social Security.
00:34COLA is designed to help retirees keep up with inflation.
00:37If prices rise, so should benefits.
00:40Before 1975, no formal system existed.
00:43COLAs are now calculated annually based on CPIW data from July through September.
00:48However, analysts forecast a 2.7 to 2.8 percent COLA for 2026, making it the fifth straight year with a COLA of at least 2.5 percent.
00:58Following 2022s, 5.9 percent.
01:022023s, 8.7 percent.
01:052024s, 3.2 percent.
01:07And 2025s, 2.5 percent.
01:10Despite increases, retirees struggle.
01:12The CPIW tracks inflation for urban workers, not seniors.
01:16TSCL estimates that from 2010 to 2024, Social Security's buying power dropped 20 percent.
01:25Major expenses for seniors, including shelter and medical care, have risen faster than COLA's.
01:31Another challenge is Medicare Part B premiums.
01:34Most retirees have this premium automatically deducted from Social Security checks.
01:38The 2026 report projects an 11.5 percent increase to $206.20 monthly, potentially erasing COLA benefits for many seniors.
01:49Even as Social Security makes history, retirees may feel like they're falling behind.
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