Social Security, a vital government program in the United States, is undergoing significant changes in the upcoming year. These updates will impact everything from payroll tax deductions to retirement benefits. To ensure…
Tag: cost-of-living adjustment
Looking Ahead: What to Expect for Social Security Beneficiaries in the 2024 COLA
In 2023, people who receive Social Security benefits saw a substantial increase in their payments due to the cost-of-living adjustment (COLA). As a result, retired workers are likely hoping for a similar adjustment in 2024.
Don’t Expect Too Much Out Of The 2024 COLA
If the current trend in inflation rates continues, the Social Security cost-of-living adjustment for 2024 might be far below 3%. Depending on what transpires in the third quarter, there is a good probability that no COLA will be awarded to recipients in 2024.
