Overview
- Benefits rise 2.8% in January, lifting the average monthly retirement check by about $56 to roughly $2,071, according to SSA figures reported by AARP.
- CMS set the 2026 Medicare Part B standard premium at $202.90 and the annual deductible at $283, both up from 2025.
- The Social Security wage cap climbs to $184,500 in 2026, exposing an extra $8,400 of earnings to payroll tax and adding about $520.80 for employees or $1,041.60 for the self‑employed.
- Trustees project the main trust fund will be depleted in the early 2030s, which could leave roughly 77% of scheduled benefits payable absent congressional action.
- Policy pressure is building as reports highlight increased garnishment risks for overpayments—up to 50% in some cases—and the potential resumption of student‑loan collections that could take up to 15% of benefits, while a CRFB proposal to cap COLAs for top beneficiaries is floated to save about $115 billion over a decade.