Estimated Cola For Social Security 2024

Estimated Cola For Social Security 2024. The aarp estimated that a 2.5% cola would increase benefits by $48 a month. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024.

While social security payouts get larger each year thanks to the cola, a recent survey by tscl found 55% of retirees have more than $2,000 in monthly. The average monthly social security benefit as of august 2024 is $1,920.