Retirement numbers for 2027: what changed

Figures checked October 18, 2026, against ssa.gov, opm.gov, irs.gov, cms.gov, oregon.gov/pers and drs.wa.gov

Each fall, the agencies that run retirement programs publish the next year's numbers. This page collects the ones that matter most to public employees nearing retirement. We list only figures that have been officially announced, with a link to where each one was published. We update the page as new figures come out.

Social Security for 2027

Social Security announced its 2027 figures on October 14, 2026 (SSA press release and SSA: 2027 COLA fact sheet).

The average retired worker figures are SSA's estimates for January 2027, before and after the 3.6% increase.

What these mean in plain terms:

• COLA. Your monthly benefit goes up 3.6% starting with the January 2027 payment. SSI payments rise starting December 31, 2026. People with a my Social Security account can see their new amount in the Message Center starting in late November 2026. Paper notices go out in December.
• Maximum taxable earnings. The 6.2% Social Security payroll tax applies to wages up to $192,300 in 2027. The 1.45% Medicare tax has no cap.
• Credits. You earn one Social Security credit (also called a quarter of coverage) for each $1,970 of covered earnings in 2027.
• Earnings test. If you are under full retirement age and working, $1 of benefits is held back for every $2 you earn over $25,560. In the year you reach full retirement age, it is $1 for every $3 over $67,920, counting only months before full retirement age. Pensions don't count. See our earnings test guide.

Bend points. For people who first become eligible for retirement or disability benefits in 2027 (for retirement, that means turning 62 in 2027), the benefit formula pays 90% of the first $1,340 of average indexed monthly earnings, 32% of the amount between $1,340 and $8,077, and 15% above $8,077 (SSA: Primary insurance amount formula). Bend points are the dollar amounts where the formula changes percentages. Our guide Social Security explained walks through the formula.

FERS and CSRS cost-of-living increases

Federal retirement COLAs are based on the same inflation measure Social Security uses, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Social Security's 3.6% COLA reflects that increase. OPM's rules turn that into (OPM: How is the COLA determined?):

For FERS, OPM's formula is: if the CPI rises 2% or less, the COLA equals the CPI increase; if it rises between 2% and 3%, the COLA is 2%; if it rises more than 3%, the COLA is 1 point less than the CPI increase.

• When it's paid. OPM applies the COLA in December and you see it in the payment you get in January 2027 (OPM: Cost-of-living adjustments).
• FERS age rule. Regular FERS retirees don't get COLAs until age 62. Disability retirees, survivors and special-provision retirees (such as law enforcement officers and firefighters) are exceptions.

As of October 18, 2026, OPM's own COLA page still listed the 2026 figures (2.8% CSRS, 2.0% FERS). The 2027 percentages above come from applying OPM's published formula to the CPI-W increase Social Security announced. Check OPM's page for its official notice.

401(k), TSP, 457, 403(b) and IRA limits

The IRS has not announced the 2027 limits yet. It usually does in the fall (the 2026 limits came out November 13, 2025). Until then, these are the 2026 limits (IRS: 2026 limits):

We'll add the 2027 numbers when the IRS publishes them.

Medicare premiums

Medicare's 2027 premiums have not been announced yet. CMS announces them in the fall, usually in November (the 2026 figures came out November 14, 2025). Social Security says your 2027 premium will appear in the my Social Security Message Center starting in late November 2026 and in the COLA notice mailed in December. We'll add them here.

For reference, the 2026 figures (CMS: 2026 Medicare premiums and deductibles):

Because the Part B premium is usually taken out of Social Security checks, a higher premium in 2027 would use up part of the 3.6% COLA. See When should I sign up for Medicare? and our IRMAA guide.

Taxes

• Senior deduction. The extra $6,000 deduction for each person 65 or older ($12,000 for a married couple filing jointly if both qualify) applies for tax years 2025 through 2028, so it is still available for 2027. It phases out above $75,000 of modified adjusted gross income ($150,000 joint) (IRS: Enhanced deduction for seniors).
• Social Security taxation thresholds. These stay the same: $25,000 and $34,000 for single filers, $32,000 and $44,000 for joint filers. See Are Social Security benefits taxed?
• 2027 tax brackets and standard deduction. The IRS usually publishes these in the fall. They had not been posted as of October 18, 2026.

Oregon PERS and Washington DRS

• Oregon PERS. PERS announced a special open enrollment for its retiree health program (PHIP), running October 1 to November 15, with coverage starting January 1, 2027. New rules remove enrollment barriers for retirees' spouses and let members enroll in a PHIP dental plan without a PHIP medical plan (Oregon PERS home page and PHIP). PERS had not posted other 2027 benefit changes as of October 18, 2026.
• Washington DRS. DRS had not posted 2027 benefit or COLA changes as of October 18, 2026. The DRS site points members to the Health Care Authority (HCA) for open enrollment for 2027 health coverage (Washington DRS).

For how each system works, see Oregon PERS explained and FERS explained.

Still to come

We'll update this page as each one is published.

General information, not advice. We aren't part of SSA, OPM, the IRS, CMS, Oregon PERS or Washington DRS. For your own figures, check your my Social Security account, your OPM annuity statement, or your state retirement system.