AARP Statement on Social Security 2026 COLA Announcement

AARP Chief Executive Officer Myechia Minter-Jordan released the statement below in response to today’s announcement of a 2.8% cost-of-living adjustment (COLA), or an average of $56 per month, for Social Security. Today more than 70 million Americans receive their earned Social Security, and for 40 percent of older Americans, Social Security is their primary source of income.

“The Social Security cost-of-living adjustment (COLA) plays a crucial role in supporting older Americans, helping ensure retirement income keeps pace with inflation. AARP has fought for Social Security for decades -- including to protect the COLA from those who wanted to make cuts. Over the past year, many older Americans have been financially squeezed, and Social Security is an important key to their financial health. It isn’t just a source of income – it’s a lifeline of independence and dignity, for tens of millions of older Americans. Yet even with the COLA, 77% of older adults still face challenges covering basic expenses.  At AARP, we’re committed to protecting and strengthening Social Security. Today, with Congress facing a deadline of 2034 to ensure Social Security can continue making its payments in full, we are committed to working on a bipartisan basis to ensure Social Security can deliver on its promise of financial security for the years to come. Americans have earned their Social Security over years of hard work, and AARP will fight to ensure people everywhere can keep what they’ve earned.”

More than one in five Idaho residents - 395,451 people - receives Social Security payments. These payments inject $8.0 billion into the state's economy every year.