What to Expect: Social Security Adjustments for 2024
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 you are prepared for the new year, here are the key shakeups to watch out for. 1) COLAs The Social Security Administration (SSA) adjusts the payouts annually to accommodate rising inflation. The cost-of-living adjustment (COLA) for 2024 will be a modest 3.2%, a …