Though President-elect Donald Trump has often promised to protect Social Security, he has not explained exactly how he would save the beloved – but financially troubled – entitlement program. Nor did he take any meaningful steps to shore up Social Security during his first term in the White House.

But unfortunately, next year's COLA won't be quite as substantial. Because of cooling inflation, Social Security benefits are only going to receive a 2.5% raise in 2025.

A Social Security-related bill with bipartisan support would expand benefits for workers who are also eligible for other pensions.

The House approved the bill and ultimately reversed the Windfall Elimination Provision and the Government Pension Offset Provision.