COLA – Weblogspot

Social Security COLA Increase: You Make More Money in 2024

October 26, 2023 by Jamie

stack of 100 dollar bills against a blue/yellow grid background

A 3.2% cost of living adjustment will affect more than 66 million Social Security beneficiaries starting in 2024, due to inflation. However, those receiving SSI will receive their first increased payment at the end of this year. Each year, the Social Security Administration determines the cost-of-living adjustment for Social Security benefits. The COLA is based …

No COLA increase in 2024? How employees could lose next year

October 23, 2023 by Jamie

Each year, the government advances COLA on Social Security recipients' benefit checks based on the rate of inflation. In 2024, they will receive a 3.2% increase to take inflation into account.

A survey released Monday found that workers have received large raises over the past few years, but amid economic uncertainty they could soon disappear. Nearly half (49%) of 600 business leaders surveyed this month by ResumeBuilder.com said they would not provide cost-of-living adjustments (COLAs) to employees next year, and 26% said they either would not …