Social Security Increase 2024 Projection 2024. 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. A 3 percent adjustment would boost the average social security retirement benefit — $1,839 a month in july 2023 — by about $55 a month in 2024.
According to a new analysis published by alicia munnell, director of the center for retirement research at boston college, retirees should expect a 2024 cola. Federal ssi payment levels will also.
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