The 2027 Social Security COLA Adds $75 a Month. Here’s What $100K in FDVV, SCHD, and JEPI Paid on Top of It
The 2027 Social Security COLA hands the average retiree a raise, but three dividend ETFs can stack income on top of that check in ways the adjustment never could. The catch is that each one comes with a risk Social…
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Social Security’s 2027 cost-of-living adjustment is 3.6%, according to the Social Security Administration. The average retired worker’s monthly benefit moves from $2,095 to $2,170, a raise of $75 a month. Over the trailing twelve months, a $100,000 position in the JPMorgan Equity Premium Income ETF (NYSEARCA:JEPI) paid $666.01 a month. Retirees own JEPI for that large distribution, which comes every month.
Over the same year, JEPI paid more than both the Schwab U.S. Dividend Equity ETF (NYSEARCA:SCHD) and the Fidelity High Dividend ETF (NYSEARCA:FDVV). That said, any of the three can add income on top of a benefit check. None of them can take its place.
Four Protections Only Social Security Provides
Social Security has four features that no fund distribution offers. The benefit is adjusted for inflation every year. It pays for life, however long that turns out to be. It holds steady when markets fall. It also keeps coming after a portfolio runs out of money. JEPI, SCHD and FDVV offer none of these protections.
A portfolio works as a supplement to a Social Security check. The figures below measure what a portfolio can add on top of guaranteed income.
How the 2027 Raise Breaks Down by Household
| Beneficiary Group | Before COLA | After COLA | Monthly Increase |
|---|---|---|---|
| All retired workers | $2,095 | $2,170 | $75 |
| Senior couple, both receiving benefits | $3,238 | $3,355 | $117 |
| Senior widow(er) alone | $1,936 | $2,005 | $69 |
For the average retired worker, the adjustment adds $900 over a full year.
The Social Security Administration releases these as national averages. Your own benefit can be far higher or lower depending on your earnings history and the age you claimed. Check your own figure on your Social Security statement rather than assuming the average applies to you.
What $100,000 Actually Paid Over the Past Year
| Fund | Payment Schedule | Average Monthly Income | Annual Income |
|---|---|---|---|
| JEPI | Monthly | $666.01 | $7,992.10 |
| SCHD | Quarterly | $256.25 | $3,074.97 |
| FDVV | Quarterly | $231.01 | $2,772.12 |
JEPI pays every month. SCHD and FDVV pay four times a year, so their monthly figures average out uneven quarterly payments. An owner of either fund gets a larger deposit each quarter and nothing in the months between.
These figures use the trailing twelve months, meaning the distributions each fund actually paid over the past year. They are not forecasts. Position sizes use delayed prices recorded during Thursday morning’s session: $57.10 for JEPI, $34.28 for SCHD, and $61.83 for FDVV.
Every One of These Payments Can Shrink
All three income figures look back, and no fund promises any of them. A fund can cut its distribution at any time, and these payouts have already moved. JEPI’s most recent monthly payment was $0.34134 per share (ex-dividend October 1, 2026), down from $0.37142 the month before. FDVV’s latest quarterly payment was $0.362, after $0.519 the previous quarter. SCHD’s rose to $0.2665 from $0.2525.
JEPI pays the most because much of its income comes from selling options, and the money that strategy brings in depends on market conditions. As those conditions change, the payment rises or falls with them. The fund does not set a fixed amount. The retiree who most needs reliable income is the one least able to absorb a cut.
Why the $100,000 Assumption Changes the Math
Every portfolio figure here assumes $100,000 is already invested. Many retirees have nothing close to that. A smaller balance pays proportionally less, so the gap between portfolio income and the COLA narrows quickly for a modest account.
Money in these funds can also lose value when markets fall. A Social Security check carries no such risk.
Why the Raise on Paper Can Shrink Before It Reaches You
For most beneficiaries, Medicare Part B premiums come straight out of the Social Security payment before it is deposited. When those premiums go up, the increase takes a share of the cost-of-living raise first. As a result, the announced increase is a gross figure. The amount that reaches your bank account can be smaller, so compare your benefit notice with your deposit rather than counting on the full raise.
How Retirees Layer Portfolio Income on Top of Social Security
Social Security is the base that holds steady when markets fall. Portfolio income is a separate layer that varies and depends on markets. Retirees who add that layer often build it gradually, with money they can afford to see fluctuate, while keeping Social Security as the core of their retirement income. JEPI’s larger checks and the smaller quarterly payments from SCHD and FDVV add to that core (we laid out the mix, the payment calendar, and the withdrawal order for turning a lump sum into something that acts like a paycheck in a free guide here).
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Ryne Mauck is an investment writer covering exchange-traded funds, retirement planning, and portfolio strategy. Through his work at 24/7 Wall St. and other investment platforms, including Seeking Alpha, he aims to provide clear, research-driven insights that help investors make more informed decisions while maintaining a long-term approach to investing.
Ryne holds a B.Sc. in Finance and an M.A. in Political Science. He is a formerly registered Municipal Advisor Representative and has passed the Series 50, Series 63, and Series 65 exams. His articles are not intended to be, nor should they be interpreted as, financial advice.
