The Social Security Administration's COLA, or cost-of-living adjustment, will be 2.8% in 2026, the agency said on Friday, with Social Security retirement benefits set to increase by about $56 per month on average starting in January. CNBC's Sharon Epperson explains what the change means for retirees. Read the full story: cnb.cx/4oEp1Qb Sign up for the Money 101 newsletter for more personal finance updates: cnb.cx/3HU95t9 | CNBC