Expected Cola Increase For 2024
Expected Cola Increase For 2024. Cola for 2024 is 3.2%. Some experts predict the cola for the following year before it is officially announced.
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. As shown above, a 3% cola in 2024 means the average retired worker would receive an extra $55.12 in.