Social Security beneficiaries are expected to receive a larger cost of living adjustment (COLA) in 2027, with The Senior Citizens League (TSCL) predicting an increase to 3.9%, up from 2.8% this year. This adjustment would raise the average monthly benefit for retired workers by $81.17, bringing it to $2,162.33. However, rising inflation, particularly due to elevated oil prices, poses challenges for many seniors, as they report feeling increasingly financially strained. The nonpartisan Committee for a Responsible Federal Budget (CRFB) estimates the COLA could range from 3% to 4.5% based on upcoming inflation data. They also warn that stagnant wages could exacerbate Social Security's budget deficit by approximately $300 billion over the next decade, potentially accelerating the insolvency of a key trust fund. If the trust fund is depleted, benefits could be cut by 25%, undoing nearly a decade's worth of COLA increases. Various proposals have been suggested to improve the program's solvency, including caps on benefits for wealthier recipients.