what is the new cola for 2024

what is the new cola for 2024

1 year ago 31
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Based on the search results, there is no information about a new cola for 2024. The term "cola" in the search results refers to the Cost-of-Living Adjustment (COLA) for Social Security and Supplemental Security Income (SSI) benefits. The COLA is an annual adjustment to ensure that the purchasing power of Social Security and SSI benefits is not eroded by inflation. The COLA for 2024 is set at 3.2%, which is lower than the 8.7% increase in 2023. The increase will begin with benefits that Social Security beneficiaries receive in January 2024, and increased SSI payments will begin on December 29, 2023.

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