A new year brings fresh changes to Social Security. One of the most prominent changes is the cost-of-living adjustment (COLA), which will be 2.5% this year and is slated to boost the average retiree's checks by just under $50 per month.

The House is expected to try to pass a Social Security-related bill this week to ensure benefits for workers who are also eligible for other pensions, despite a surprise move by hard-right Freedom Caucus leaders to derail the effort.

President-elect Donald Trump has had his eye on Social Security, but his latest proposal — to cut taxes on benefits — may not have the effect beneficiaries would want, experts said.

Trump has repeatedly said he won’t “cut one cent” from Social Security or raise the retirement age. The official Republican Party Platform adopted at the Republican National Convention echoed those promises but it’s less clear how Trump plans to shore up the program’s finances.

In the coming years, Social Security expects to owe more in scheduled benefits than it collects in payroll tax revenue as baby boomers stage a massive exodus from the workforce. T

President-elect Donald Trump has promised to eliminate taxes on Social Security benefits. However, experts say it’s too early to factor such changes into financial plans, even with a Republican majority in Congress.