Every year, Social Security is eligible for a COLA. When inflation remains flat, Social Security benefits remain flat. When there's a decrease in inflation from one year to the next, Social Security benefits also remain flat.

The Senior Citizens League released a new estimate Wednesday for the 2025 COLA based on current inflation levels.

COLAs are designed to help retirees keep pace with inflation, but they're not guaranteed. Rather than count on money that may never come, here's what I'm doing instead.

The new Social Security payments for retirees aged 70 and above, now capped at $5,108, go out in 10 days. When will checks arrive? Social Security payments are scheduled to begin on the second Wednesday of every month and continue in waves on a weekly basis.

The Supplemental Security Income (SSI) benefit payments will be distributed twice in August - on Friday, Aug 1 and on Friday, Aug. 29. The second August payment is scheduled because the first day of September lands on a holiday - Labor Day.

Social Security payments in August will follow a normal schedule for Michigan retirees and others who receive money, however those who were previously overpaid by the Social Security Administration may see smaller benefit checks.