The predicted 2.5% COLA for 2025 aligns with historic norms yet falls short as inflation continues to strain household budgets for seniors.
In TSCL's 2024 Retirement Survey, 65% of seniors reported monthly expenses of at least $2,000, a notable increase from 55% in 2023.
Low-income seniors are particularly impacted by rising costs, but seniors across different income brackets are also experiencing heightened financial pressure.
TSCL advocates for a minimum 3% COLA, noting that two-thirds of seniors rely on Social Security for over half of their monthly income.
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