WASHINGTON (AP) — The ongoing government shutdown has delayed the announcement of the annual Social Security cost-of-living increase. This announcement, originally scheduled for Wednesday, is now set for Oct. 24. The delay affects millions of beneficiaries who rely on these adjustments to plan their finances. The Senior Citizens League and AARP are projecting a 2.7% increase. Many retirees worry this won’t cover rising costs. Some lawmakers propose using a different index to calculate these increases since they don’t factor in health care expenses. The agency plans to notify recipients of their new benefits in December. The program faces financial challenges, with a trust fund shortfall expected by 2034.
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