2024 Cost Of Living Raise For Social Security
2024 Cost Of Living Raise For Social Security. Millions of social security recipients will get a 3.2% increase in their benefits in 2024, far less than this year's historic boost and reflecting moderating consumer. With the increase, the average benefit check will increase $49, rising to $1,907 from this year's $1,858, the agency said.
This cola is much lower than the 8.7%. A 3.2% cola for 2024 would increase an average monthly retiree benefit of $1,790 by $57.30, the tscl said.