Latest Social Security 2024 Cola Prediction. A resurgence of inflation could still drive. It’s not going to approach 2023’s historically high cola increase of 8.7%, but the 2024 social security cost of living adjustment is expected to be 3.2%, which if it comes to fruition would raise an average monthly retiree benefit of $1,790 by $57.30.
A cola of 3.0% would raise the current average monthly benefit of $1,787.00 by about $53.60, according to the senior citizens league. This is the same as last month’s prediction.
More Than 71 Million Americans Receiving Social Security Benefits Will See Their Checks Rise By 3.2 Percent Next Year To Help Them Keep.
The latest forecast for next year’s increase is 3.2%.
The Latest Forecast For The Social Security Administration's Annual Cost Of Living Adjustment, Or Cola, Has Put The 2024 Projection At Less Than 3% Based On The May 2023 Consumer Price Index.
What you need to know.
Social Security Benefits Increase In 2024.
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Fri, Aug 11, 2023, 4:30 Am 4 Min Read.
As of 2024, earnings above $168,600 are exempt from social security’s 6.2% payroll tax.
The Latest Forecast For Next Year’s Increase Is 3.2%.