Social Security recipients across New York will see a modest increase in their January payments as the 2026 cost-of-living adjustment takes effect, boosting monthly benefits for millions of retirees, disabled workers, and families.
The 2.8 percent COLA applies to about 75 million Americans nationwide. For the average recipient, that translates into an increase of roughly $56 per month, raising typical benefits from about $2,015 to approximately $2,071.
New York is home to 559,604 Social Security recipients who collectively received about $400 million in benefits during 2024. That total includes more than 234,000 residents age 65 and older, 446,245 people who are blind or disabled, nearly 70,000 children under 18, and 187,565 individuals who receive Supplemental Security Income.
SSI payments were issued Wednesday, Dec. 31, because New Year’s Day is a federal holiday and benefits are paid on the last business day of the prior month. The maximum federal SSI payment for an individual rises to $994 in 2026.
Payments for people who receive both Social Security and SSI, as well as long-term beneficiaries who began collecting before May 1997, were scheduled for Jan. 2 due to calendar adjustments.
Most other recipients will receive January payments based on their birthdays. Those born between the first and 10th of the month will be paid Jan. 14. Birthdays from the 11th through 20th will be paid Jan. 21, while birthdays from the 21st through 31st will receive benefits Jan. 28.
Not all of the COLA will be felt in retirees’ pockets. Medicare Part B premiums increased by $17.90 to $202.90 per month, consuming nearly one-third of the average benefit increase and reducing the typical monthly gain to about $38.
Another change affects older Americans who continue working. The annual earnings limit for those collecting benefits before full retirement age rises to $24,480 in 2026, allowing recipients to earn more income before benefits are temporarily withheld.