The Social Security Administration announced a 3.6% benefit increase for 2027 on Oct. 14. The cost-of-living adjustment is critical at a time when one in five older Americans has no retirement savings to rely on.
Scott Wegenast, communications manager for AARP Kentucky, said more households feel financially insecure compared to last year.
“Too many older Americans are still feeling like they’re falling behind, and that can be from prescription drug costs increasing, utilities on the increase, fuel prices, grocery prices,” Wegenast outlined…