In August, the Social Security program commemorated its 90th anniversary. Since President Franklin D. Roosevelt signed the Social Security Act into law on Aug. 14, 1935, and the first checks were mailed out in Jan. 1940, it has been one of America’s staple social programs, keeping hundreds of millions of people financially afloat in retirement.
During that span, Social Security has undergone many changes, but the overall intent of the program remains the same. Some changes have been permanent, such as rising full retirement ages. Other changes, like the cost-of-living adjustment (COLA), are ones you can expect to happen almost annually.
Based on estimates from The Senior Citizens League (TSCL), a nonpartisan senior advocacy group, when the Social Security Administration (SSA) announces the 2026 COLA on Oct. 15, it will likely be higher than 2025’s COLA. This otherwise good news comes with a catch that retirees may not like.