Aging Groups Say 2026 Social Security COLA Falls Short of What’s Needed for Seniors

Published in RINewsToday on October 27, 2025/

On October 24, the Social Security Administration (SSA) announced a 2.8 percent Cost-of-Living Adjustment (COLA) increase for 75 million beneficiaries, including those receiving Old-Age, Survivors, and Disability Insurance (OASDI) and Supplemental Security Income (SSI) payments.

Specifically, nearly 71 million Social Security beneficiaries and OASDI recipients will see a 2.8 percent COLA starting in January 2026. In contrast, SSI recipients will begin seeing their increased payments on December 31, 2025. (Note: Some individuals receive both Social Security benefits and SSI.)

According to the SSA, the average Social Security retirement benefit will increase by approximately $56 per month, bringing the average monthly check to $2,071, up from $2,015 in 2025. For married couples, the average increase will be $88, raising their monthly benefit from $3,120 in 2025 to $3,208 in 2026.

Over the past decade, the average COLA increase has been about 3.1 percent. (Note our calculations, below, which excluded the highs and lows due to COVID comes out with an average of 2.6%). For 2025, the COLA was 2.5 percent. However, in historical terms, this COLA ranks about average, coming in 29th out of the 51 COLAs announced since the government began tying COLAs to the Consumer Price Index (CPI) in 1975, according to The Senior Citizens League (TSCL).

The Social Security Act mandates how the COLA is calculated, tying it to the increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), as determined by the Department of Labor’s Bureau of Labor Statistics.

The SSA’s announcement, originally scheduled for October 15, was delayed by nine days. According to the federal agency and multiple news outlets, the delay was caused by furloughed employees at the Bureau of Labor Statistics, which hindered the timely release of the September CPI-W report during the federal government shutdown.

Other annual adjustments, effective each January, are based on increases in average wages. For 2026, the maximum amount of earnings subject to Social Security taxes (the taxable maximum) is expected to rise to $184,500 from $176,100.

“Social Security is a promise kept, and the annual cost-of-living adjustment is one way we ensure benefits reflect today’s economic realities and continue to provide a foundation of security,” said Social Security Administration Commissioner Frank J. Bisignano in a statement announcing the 2026 COLA. “The cost-of-living adjustment is a vital part of how Social Security delivers on its mission.”

Notification of 2026 COLA Increase

The SSA will begin notifying beneficiaries about their new benefit amounts by mail in early December 2025. As in previous years, beneficiaries will receive a simplified, one-page COLA notice that uses plain language and provides details on their new benefit amount and any deductions.

Beneficiaries with a “my Social Security” account can view their COLA notices online, which is secure, easy, and faster than receiving a letter in the mail. Account holders can also set up text or email alerts for new messages, including COLA notifications. That information should be out in the first or second week of November.

To receive COLA notices online, individuals must create or sign in to their personal “my Social Security” account and opt out of paper notices by November 19, 2025. Create an account at www.ssa.gov/myaccount. In addition to COLA notices, account holders can also access their Social Security card replacement request, claim status, benefits information, and SSA-1099 forms.

Information about Medicare changes for 2026 will be available at www.medicare.gov. For Medicare enrollees, 2026 premium amounts will be available via the “my Social Security” Message Center starting in late November. Those who have not opted for online notices will receive their COLA notices by mail in December.

Aging Advocacy Groups Call New COLA “Inadequate”

According to an AARP survey, conducted in Sept. 2025, even a COLA around 3% was viewed “insufficient to do the job,” says Bryan Miller, AARP Research. Only 22% of Americans age 50-plus agree that “a COLA of right around 3% for Social Security recipients is enough to keep up with rising prices,” while 77% disagree, stated, noting that this sentiment was consistent across political party affiliations, with large majorities of republicans (75%), Independents (82%) and Democrats (79%) expressing disagreement,” noted Miller in a web article published on Oct. 21, 2025.

“Nearly three-quarters (72%) of older Americans selected 5% or higher, with one quarter (25%) indicating that an 8% increase would be necessary to keep pace with rising costs. Responses to this question were consistent across political party affiliations,” adds Miller.

With the SSA’s announcement of the 2026 COLA three days later, aging advocacy groups expressed concern over the adequacy of the increase.

“Over the past year, many older Americans have been financially squeezed, and Social Security is a key to their financial stability,” said AARP Chief Executive Officer Myechia Minter-Jordan. “AARP has fought for Social Security for decades — including efforts to protect the COLA from cuts,” she said.

Nancy Altman, President of Social Security Works, echoed these concerns, noting that the COLA fails to fully address rising costs, especially healthcare. “This year, Medicare Part B premiums are projected to rise by about 11.6 percent, nearly double last year’s increase,” Altman said. “For the average beneficiary, this will consume nearly half of their COLA increase. For some, it will use up the entire COLA increase — all while the costs of other necessities, such as food and housing, continue to climb.”

Altman also pointed out that Social Security beneficiaries who are not yet eligible for Medicare and rely on the Affordable Care Act (ACA) marketplaces for insurance face even steeper challenges. “Next year, ACA premiums are expected to rise sharply, with those over 50 being hit hardest.”

Max Richtman, President and CEO of the National Committee to Preserve Social Security and Medicare (NCPSSM), agreed, saying, “The 2.8% COLA will be a disappointment for many seniors struggling to cover their bills. This is the second lowest COLA since 2021 and only a slight increase from this year’s rate.” He added that the COLA doesn’t keep pace with inflation, particularly in areas where prices are rising sharply, such as medical, housing, and grocery costs.

Richtman and NCPSSM have long advocated for a more accurate COLA formula, specifically the Consumer Price Index for the Elderly (CPI-E), which would better reflect the spending patterns of older adults, who tend to allocate more of their income to healthcare and housing. “The CPI-W, which is used to calculate the current COLA, does not accurately capture seniors’ spending habits,” Richtman said.

“The 2026 COLA is going to hurt seniors. Year after year, they warn that Social Security’s meager increases won’t be enough, and the U.S. Census Bureau estimates that about 10 percent of retirement-age Americans live in poverty. However, our research suggests that the number may be higher. It’s about time our elected representatives show up for seniors, or else seniors won’t show up for them at the voting booth,” states TSCL’s Executive Director Shannon Benton.

Richard Fiesta, Executive Director of the Alliance for Retired Americans calls for Congress to make strengthening and expanding social Security national priority. “If billionaires and the wealthiest 1 percent pay their fair share, we can boost benefits for everyone and guarantee the program’s solvency for future generations,” he suggests.

Fixing the COLA Formula

Social Security Works, TSCL, the NCPSSM, Alliance for Retired Americans and AARP are all calling on Congress to adopt the CPI-E to calculate COLAs. The CPI-E more accurately reflects the spending habits of seniors, particularly in categories like healthcare and housing, which are weighted more heavily in the CPI-E. Adopting this index would likely result in higher COLAs for Social Security beneficiaries.

NCPSSM’s Richtman supports several pieces of legislation that would adopt the CPI-E, including bills sponsored by Senators Bernie Sanders and Mazie Hirono, and Representatives John Larson, Val Hoyle, and Jill Tokuda. “This change is long overdue,” he said. “Instead of expecting seniors to scrape by, Congress should act now to help beneficiaries better cope with rising living costs.”

With the Latest SSA Trustee Report Released, Congress Must Act Now to Fix Social Security

Published in Blackstone Valley Call & Times on June 24, 2025

Just before Medicare celebrates its 60th anniversary this July and Social Security marks its 90th birthday in August, the Social Security Board of Trustees recently released its annual report on the financial status of the Social Security Trust Funds.

According to this year’s estimate, by 2033, projected revenues will only cover 77% of scheduled benefits—unless Congress takes action to address the program’s looming shortfall. Combining the Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) trust funds would extend coverage for another year, ensuring 81% of scheduled benefits through 2034, instead of 2035, as previously estimated.

The trustees also reported that Medicare’s Hospital Insurance Trust Fund (Medicare Part A, which covers certain healthcare services) will be able to pay full benefits until 2033, a year earlier than the previous estimate of 2024. At that point, the fund is expected to cover 89% of benefits.

For 2024, the Social Security Administration (SSA) paid $1.47 trillion in benefits to about 68 million beneficiaries, while its administrative costs were just $7.4 billion—representing a very low 0.5% of total expenditures. However, the projected 75-year actuarial deficit is 3.82% of taxable payroll, higher than the 3.50% projected in last year’s report.

Frank Bisignano, Commissioner of Social Security, stressed that ensuring the financial stability of the trust funds remains a top priority for the Trump Administration. “We must work together—Congress, SSA, and others—to eliminate waste, fraud, and abuse to protect and strengthen the trust funds for millions of Americans who rely on it for secure retirement or disability benefits,” he stated.

In responding to the released Trustee’s report, House Ways and Means Social Security Subcommittee Ranking Member John B. Larson (D-CT) criticized the current administration’s approach, calling the Trustees’ Report a wake-up call to enhance Social Security for the first time in more than 50 years. Larson also pushed back against misleading claims from President Trump and Elon Musk about waste and abuse within the system. “Seniors, veterans, and disabled workers rely on these earned benefits, and they’re counting on Congress to do its job,” Larson said. “While Republicans push for privatization, Democrats have a plan to protect and expand Social Security.”

Larson’s Social Security 2100 Act, introduced in the last Congress with 189 cosponsors, aims to strengthen Social Security by expanding benefits and increasing payroll taxes to ensure the program’s long-term solvency.

Media Headlines on Social Security’s “Insolvency” Create Unnecessary Fear

Some media outlets, including The Washington Post, have raised alarms with bold headlines warning that Social Security could become “insolvent by 2033” or even “bankrupt.” In a statement, Bob Weiner, former Chief of Staff to the U.S. House Committee on Aging, rejects these claims, noting that the SSA currently holds a $2.7 trillion surplus. According to Weiner, the Trustees’ warning that the program may cover only 81% of benefits by 2034 is being misinterpreted as insolvency or bankruptcy. “That’s neither bankruptcy nor insolvency. Congress can fix this, perhaps by raising the income cap on Social Security taxes,” Weiner explains.

Weiner points out that, in 2026, the income cap for paying Social Security taxes is set to be $181,800. He also emphasizes that Social Security has faced repeated budget cuts to fund tax breaks for the wealthy. “We must protect Social Security as a priority,” Weiner says. “As Speaker Emerita Pelosi often reminds us, ‘First, do no harm.’”

Aging Groups Give Their Thoughts About Fixing Social Security

In statements, Social Security advocacy groups have also weighed in on and give comments on the latest Social Security and Medicare Trustee reports.

Nancy Altman, President of Social Security Works, argues that the program is fully affordable and costs only about 6% of the GDP at the end of the 21st century. She believes Congress will act to avert the projected shortfall, as it always has in the past. The key question to ask, Altman says, is whether lawmakers will choose to bring in more money through higher taxes or reduce benefits.

Altman strongly opposes cutting benefits, charges that politicians who don’t support increasing Social Security revenue are, by default, advocating for cuts. She highlights the impact of income inequality, which has cost Social Security over $1.4 trillion since 1983. “If the wealthy paid their fair share into the program, we could easily protect and expand Social Security’s modest benefits,” she notes.

While Americans are divided on many issues, Altman points out that there is broad consensus in support of Social Security. “The real crisis facing Social Security is not a future shortfall, but the ongoing sabotage it’s experiencing now,” she says. Altman specifically references the role of Elon Musk’s DOGE, which has pushed out thousands of Social Security staff members, including nearly half of its senior executives, resulting in an irreplaceable loss of institutional knowledge.

Despite these challenges, Altman notes that Social Security is run efficiently, with administrative costs well under a penny for every dollar spent. A major increase or decrease in administrative spending would have minimal impact on the program’s finances.

Max Richtman, President and CEO of the National Committee to Preserve Social Security and Medicare, says this year’s comments on the Trustees’ report, mirrors those he made last year – It’s time to rebuild reserves in the Social Security Trust Fund. However, he warns against harmful proposals such as raising the retirement age or means-testing benefits, both of which would cut benefits for millions of Americans.

“Raising the retirement age to 69 or 70 would significantly reduce lifetime benefits. These ideas have been part of Republican proposals to address the projected shortfall,” Richtman explains.

Richard Fiesta, Executive Director of the Alliance for Retired Americans, urges aging advocacy groups not to remain complacent. “Republicans in Congress are eager to cut the benefits Americans have worked a lifetime to earn,” he warns. “We cannot allow Social Security to be privatized or dismantled.”

Fiesta also calls for stronger Medicare reform, urging Congress to curb the high cost of prescription drugs and hold Medicare Advantage insurance corporations accountable for rising costs that don’t benefit patients.

A Final Note…

Social Security is an essential lifeline for millions of Americans, and its future is now at a crossroads. Can a partisan Congress work together to find a political viable fix?

While the media reports Social Security’s impending insolvency and bankruptcy, there is no doubt that Congress must act soon to ensure the program’s long-term sustainability. Whether through increasing revenue or reforming benefits, the decision on how to strengthen Social Security will shape the future of retirement and disability benefits for generations to come. It’s time for Congress to act.

View the 2025 Trustees Report at www.socialsecurity.gov/OACT/TR/2025/.

Chair Casey leaves mark on national aging policy. Leadership changes in DC and RI

Published in RINewsToday on December 16, 2024

Last week, U.S. Sen. Bob Casey (D-PA), Chairman of the U.S. Senate Special Committee on Aging, held his last hearing, entitled “Empowering People with Disabilities to Live, Work, Learn, and Thrive, in SD 106. This hearing was his swan song as Chairman of the Senate Aging Committee.

The 3-term Democratic Senator, first elected in 2006, lost his reelection bid for a fourth term to Republican Dave McCormick, a West Point graduate, combat veteran and Bronze star recipient, and a national security expert, and former hedge fund manager. A recount of votes confirmed that Casey lost by 16,000 votes (3,398,628 to 3,382,423) and he conceded the race on Nov. 21st.

With the dust settling after the Nov. 5^th presidential election, Republicans will take control of the legislative agenda of the upper chamber, with a 53-47 majority, and control the house.

According to a Senate Aging Committee, during the upcoming 119^th Congress Sen. Tim Scott (R-SC), a former Ranking Member, is expected to replace Casey as chairman on Jan. 3rd, 2025. Former Ranking Member Mike Braun (R-Ind) will leave the Senate after becoming Governor-elect of Indiana.

An advocate for America’s seniors

During the 118^th, the Senate Aging Committee under the helm of Casey held 18 full hearings, five field hearings, and one joint full hearing. His final hearing, lasting one hour and 46 minutes, highlighted his long record as a champion for people with disabilities, and laid out his vision for how Congress must continue to work to empower them.

“From the beginning of my time in the Senate, I heard a constant refrain from disability advocates that their needs were not being met—they faced barriers to save for their future, they were being paid well below a living wage, and they could not afford or access the care they needed,” says Casey in his opening statement. “Those refrains, including from some of the people we heard from at today’s hearing, are what inspired me to make people with disabilities a focus of my Senate career and time as Aging Committee Chairman,” he said.

During his 18 years in the Senate, Casey has been one of the foremost champions in Washington for people with disabilities. He created the Stephen Beck Jr. Achieving a Better Life Experience Act (ABLE) program, which has helped hundreds of thousands of families save for long-term care for their disabled loved ones with a tax-advantage savings account. The Associated Press hailed this legislation as “the most important new law for [those with disabilities] in 25 years. He also made federal websites more accessible for people with disabilities, and propelled the fight for access to home care to the forefront of the national conversation.

In addition, the Pennsylvania Senator led efforts to improve care in nursing homes by expanding and strengthening oversight over poor-performing facilities while ensuring that nursing homes and long-term care facilities have the resources they need to provide high-quality care to residents. His work has led the Centers for Medicare and Medicaid Services (CMS) to publicly release information about nursing facilities with a documented pattern of poor care, ensuring older adults and their families have the information they

At the Dec. 12^th hearing, Chairman Casey also released a series of issue briefs documenting his record chairing the Aging Committee on making government technology accessible, expanding access to home care, improving nursing homes, lowering prescription drug costs, and ensuring economic security for older adults:

“We have made a lot of progress, from creating the ABLE program to making government technology more accessible,” Casey continued. “But as we heard today, there is still a lot more to do—from expanding access to home care to finally phasing out the subminimum wage,” he added.

Kudos to Casey’s advocacy for America’s disabled Seniors

At the hearing, witnesses from Pennsylvania and national organizations testified about the impact of Casey’s work impacting the disability community in the Commonwealth and around the country.

I want to thank Senator Casey for your leadership. None of the successes I outlined would have been possible without your steadfast championship, advocacy and partnership. It is daunting to think about facing the challenges ahead, particularly the threats to Medicaid, without you at the helm, but we have been emboldened to reimagine what is possible because of your leadership,” says Witness Ai-Jen Poo, President of the National Domestic Workers Alliance and Executive Director of Caring Across Generations.

Witness Neil McDevitt, Mayor of North Wales, Pennsylvania, noted: “Senator Casey, you have been a steadfast ally of North Wales Borough, the Commonwealth of Pennsylvania, and millions of disabled and Deaf Americans. We owe you a debt that can never be repaid.”

“Things are actually changing. We are not yet where we need to be when it comes to disability access and acceptance, but we are getting there. It brings me great joy when I hear of disabled people in my community getting good paying jobs and not being relegated to sheltered workshops for less than minimum wage,” adds Erin Willman, CEO of White Cane Coffee in Warren, Pennsylvania.

Witness Lydia Brown, Director of Policy, National Disability Institute, told the attending Senators:“Ten years ago, Sen. Casey’s leadership in introducing and passing The ABLE Act changed the game. People whose disabilities began before age 26 can now access a savings vehicle that can conserve up to $100,000 total without their savings counting against them in determining eligibility for SSI and Medicaid. Money in an ABLE account can be used for a wide range of qualified disability expenses, including otherwise unaffordable assistive technology and health care, as well as educational and employment related costs. For many disabled people on Medicaid, an ABLE account is also their only available means to save for retirement.”

A fond farewell

“Bob Casey served honorably as the chair of the Senate Special Committee on Aging. He held a wide range of hearings intended to develop a record that could be used to help shape future legislation,” says Max Richtman, President & CEO, National Committee to Preserve Social Security and Medicare who also is a former staff director of the Senate Special Committee on Aging. Casey had held numerous hearings on issues facing older adults that helped build support for components of the Older Americans Act reauthorization – which just passed the Senate and may be included in the end-of-year package, noted Richtman.

“Senator Casey also held hearings on disabled older adults, including one with former Social Security Commissioner Martin O’Malley to discuss what the Social Security Administration (SSA) is doing to make the application process easier,” added Richtman, noting that other hearings were held on scammers preying on the elderly – designed to help older adults and their families know what to look for — and protect against.

“We can only hope that when Republicans assume control of the Senate in January, this committee will continue the serious work of looking after the interests of seniors, who have contributed so much to our society and yet are among our most vulnerable citizens,” says Richtman.

“Leadership Council of Aging Organizations (LCAO) thanks Senator Bob Casey for his leadership and dedication to improving the lives of older Americans through his work on the Senate Aging Committee,” said Debra Whitman, LCAO Chair. “We look forward to collaborating with incoming Chairman Rick Scott to continue addressing the needs and enhancing the well-being of our nation’s growing aging population,” she says.

“As Chairman of the Senate Special Committee on Aging, Senator Bob Casey was a critical champion for seniors. He fought to strengthen Social Security and Medicare, stop elder abuse, and improve conditions in nursing homes. Casey will be greatly missed in the Senate by everyone who cares about senior issues. We urge the next chairman of this invaluable committee to continue his legacy.” Says Nancy Altman, President of Social Security Works.

“It is wonderful to have a Senate Aging Committee and Senator Casey’s terrific advocacy but inexcusable for the House not to restore its counterpart, which Chairman Claude Pepper proved is indispensable,” said Robert Weiner, former Chief of Staff of the House Select Committee on Aging and later a senior White House spokesman.

Announcing job transitions and retirement – in Rhode Island

Two well-known aging advocates have announced their departures.

The Alliance for Better Long-Term Care announces the retirement of Kathleen “Kathy” Heren. She dedicated 26 years to serving Rhode Island’s seniors. For the past 15 years, Heren has served as the Rhode Island State Long Term Care Ombudsman, tirelessly advocating for the rights and well-being of residents in long-term care facilities across the state. She is known for her “fierce dedication, wisdom, and compassion have made her an unwavering champion for those in need.”

After serving as Executive Director of LeadingAgeRI for over 16 years, James P. Nyberg is leaving the nonprofit to become Senior Advisor at the Boston-based Public Consulting Group. He will provide his expertise to the company on home and community-based services.

During his tenure, he significantly advanced aging services by advocating for quality, affordable care and fostering partnerships with state and national stakeholders. His leadership has driven innovative initiatives addressing the needs of older Rhode Islanders while supporting workforce development and professional growth among member organizations.

Nyberg ably served as Chair of the state’s Advisory Commission on Aging for over six years.