India, Aug. 23 -- Several proposals modeled by the Social Security Administration's Office of the Chief Actuary could reduce future annual cost-of-living adjustments, or COLAs, for millions of beneficiaries as policymakers consider options to improve Social Security's long-term finances.

The proposals are not current law, and they do not mean Social Security benefits have already been cut. The SSA lists them as policy provisions and estimates their potential financial effects using the intermediate assumptions of the 2026 Trustees Report.

Proposal would reduce annual COLA by 1 percentage point

One option listed by the SSA's COLA proposals page would reduce the annual COLA by 1 percentage point beginning in December 2027.

For example, ...