Latest 2024 Cola Projection. Since the federal reserve appears to have made progress on the inflation front this year,. 12, 2023, following the release of september 2023 inflation data.
A cola of 3% — much less than this year’s 8.7% increase — would raise the average monthly social security benefit from $1,789 to $1,842.70. At the start of 2023, seniors on social security saw their monthly benefits rise 8.7%.
Our Model Points To A Substantially Lower.
At the start of 2024, social security benefits received a 3.2% cola.
Since The Federal Reserve Appears To Have Made Progress On The Inflation Front This Year,.
But 2024’s cola is shaping up to be considerably smaller.
Latest 2024 Cola Projection Images References :
2023 Cola For Federal Retirees Highest Since 1981 The 2023 Cola For Federal.
The declining rate of inflation points to a “significantly lower” cola next year than this year’s historic 8.7% cola increase—which was the highest in four decades.
The Official 2024 Social Security Cola Will Be Announced By The Social Security Administration On Thursday, Oct.