Jessica Hall is a retirement reporter for MarketWatch.
The cost-of-living adjustment for Social Security will rise 3.2% in 2024, compared with an 8.7% increase in 2023, according to the Social Security Administration.
COLA is not a raise – it merely helps the roughly 67 million Social Security beneficiaries catch up with inflationary pressures. Inflation was lower this year than last year, which means the inflation-adjustment for COLA is lower. The large COLA increases over the prior two years – 8.7% and 5.9% – have had some drawbacks in terms of taxes and other benefits.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
COLA Social Security Benefits Expected to Rise 3.2% in 2024The government on Thursday announces how much checks rise next year for the roughly 67 million Social Security recipients.
Les mer »
COLA Social Security Benefits Expected to Rise 3.2% in 2024The government on Thursday announces how much checks rise next year for the roughly 67 million Social Security recipients.
Les mer »
2024 Jaguar F-Type ZP Edition, 2024 BMW X2: Car News HeadlinesBMW's redesigned X2, Jaguar's final F-Type, and the next Corvette ZR1 all made headlines today.
Les mer »
Social Security Benefits Expected to Rise 3.2% in 2024The government on Thursday announces how much checks rise next year for the roughly 67 million Social Security recipients.
Les mer »
Social Security cost-of-living adjustment coming -- but it won't be as big as this year'sSocial Security's cost-of-living increase for 2024 will be announced Thursday.
Les mer »