Social Security imposes taxes on benefits for people who earn above a certain income -- and that income threshold hasn't changed for decades.

Consider it like this: If the average retired worker benefit at age 70 is $2,068 per month, and Social Security's 2025 COLA is 2.5%, then the average 70 year old will receive an additional $51.70 per month next year. No other age group has a large baseline benefit, so no other group will receive a larger COLA.

According to the Social Security Administration, nearly 68 million Americans receive a Social Security check monthly. A majority of those are retired. The beginning of tax season is a few months away.

When the Social Security cost-of-living adjustment goes into effect next year, retirees can expect a small raise. Find out just how big the benefits increase will be.

But many political leaders have wanted to revise the calculation method throughout the years -- including Democratic presidential nominee Here's how much your 2025 Social Security COLA would be if Harris had her way.

Without a legislative solution, Social Security trust fund reserves are on track to be depleted just over a decade from now.