LANSING, Mich. (Michigan News Source) – Nearly 2.4 million Michiganders who receive Social Security benefits are about to find out how much bigger their checks will be next year.

The Social Security Administration is expected to announce its 2027 cost-of-living adjustment, or COLA, on Oct. 14, after September inflation numbers are released. The annual increase is intended to help benefits keep pace with rising consumer prices.

Michigan Has Millions Riding on the Number

MORE NEWS: Gilchrist Plays the Trump Card as Forlini Pushes Election Security in Michigan SOS Debate

Michigan had 2,381,255 Social Security beneficiaries as of December 2025, according to the Social Security Administration. That includes nearly 1.79 million retired workers and more than 280,000 disabled workers.

Nationally, roughly 71.5 million people currently receive Social Security benefits.

How Big Will the Raise Be?

The final number isn’t known yet, but current projections by the Senior Citizens League put the 2027 COLA at roughly 3.5% – higher than the 2.8% increase beneficiaries received for 2026.

For someone receiving $1,940.08 a month (the average), a 3.5% increase would mean another $67.90 monthly.

Bigger Checks Start in January

The government calculates the COLA based on the average year-over-year change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for July, August and September.

The higher Social Security payments will begin January 1, 2027, although increases in Medicare premiums could eat into some retirees’ gains. The standard Medicare Part B premium is projected to increase from $202.90 per month in 2026 to $209.50 in 2027 – an increase of $6.60 a month, or $79.20 for the year. Because Medicare premiums are typically deducted directly from Social Security checks, beneficiaries may not see the full COLA increase reflected in what actually lands in their bank accounts.