Now, with the year winding down, all Social Security retirees should mark Nov. 20 as another date to remember. Here's why.

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.

Social Security benefits will arguably lose buying power next year because the 2.5% COLA understates inflation.