Cola 2024 Increase Announcement As Of Today. That adds about $50 monthly to the average retirement benefit consumers. Here's how much more money you will start getting in january.

The cost of living adjustment rose by 3.2 percent for 2024, the social security administration announced today. Most state and all school agencies contract for a 2% cola provision, while public agencies may contract for a 2%, 3%, 4%, or 5% cola provision.