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According to the 2024 Social Security Trustees Report, the intermediate case calls for a 2.6% COLA for this year (the increase that will start with January 2025 payments).
As previously reported by GOBankingRates, a 3.0% COLA would represent a big drop from this year’s COLA of 8.7% — the highest since the early 1980s. Social Security beneficiaries can thank the ...
The percentage difference is the amount of the COLA, which would be payable in Social Security checks beginning in January 2024. A 3.2% COLA is still higher than the average over the past 20 years ...
As expected, Social Security recipients will be getting a 3.2% cost-of-living adjustment (COLA) in 2024 -- the lowest COLA since 2021, and well below this year's 8.7% adjustment. The Social ...
While that was a giant raise in its own right, the following year, seniors on Social Security enjoyed an 8.7% COLA. Even 2024's relatively modest 3.2% COLA was fairly large in the context of ...
Average benefits in 2023 have only recovered about $179.40 in total since the start of the year. The 8.7% COLA increase has exceeded the actual rate of inflation in every month so far this year by ...
Most Americans cheer cooling inflation, but Social Security recipients worry COLA for 2024 could end up less than a third of 2023's 8.7% increase.
Social security COLA rates are expected to rise even more in 2024 after the latest August CPI data was released. ... or COLA, will likely be 3.2% for 2024. That would add about $57 to monthly ...