Social Security Cost of Living Increase for 2024 is 3.2%

“Social Security Announces 3.2 Percent Benefit Increase for 2024.”

Social Security and Supplemental Security Income (SSI) benefits for more than 71 million Americans will increase 3.2 percent in 2024, the Social Security Administration announced today. On average, Social Security retirement benefits will increase by more than $50 per month starting in January.

…”the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $168,600 from $160,200.”

“Information about Medicare changes for 2024 will be available at the Centers for Medicare and Medicaid Services (CMS).

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