2024 Cost Of Living Adjustment. For social security beneficiaries, that may be bittersweet news, because though some prices may come down, their. In june 2024, the average monthly social security benefit for retired workers was $1,918.
In 2023, it was 8.7%. Have climbed more than 20%.
Unfortunately, That Doesn't Always Work.
New government data for may shows inflation is cooling.
In 2024, The Cola Increase For Social Security Beneficiaries Is 3.2%.
Included with the chart are several key issues plan sponsors may want to consider before the end of the year.
2024 Cost Of Living Adjustment Images References :
A Chart Of The 2024 Cola Figures Can Be Found Here.
The average beneficiary will see a $54 increase in their benefit amount.
To Help People Who Receive Benefits And Payments Keep Up With The Changing Cost Of Living, Social Security.
A cola changes benefits based on changes in consumer prices.