Social Security Cost-of-Living Adjustment Announced for 2024
On Thursday, October 12th, Social Security announced that the cost-of-living adjustment (COLA) for 2024 will be 3.2%. This adjustment follows a 5.9% COLA in 2022 and a record-high increase of 8.7% in 2023. This coming year, Social Security beneficiaries will see a 3.2% boost to their monthly paychecks to combat inflation, which continues to increase the cost of living and …
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