Cola 2024 Update. More than 71 million americans will see a 3.2% increase in their social security benefits and supplemental security income (ssi) payments in 2024. This year’s 4.12% inflation rate will be used to calculate the 2024 cola for calpers retirees.
/ updated september 13, 2023. July and august inflation reports suggest next year’s boost likely to be around 3%, analysts say.
This Year’s 4.12% Inflation Rate Will Be Used To Calculate The 2024 Cola For Calpers Retirees.
The group then increased that number to 2.6%.
Cola Is Dependent On Three Factors:
Each year, social security bases the cola on changes in the consumer price index.
The 2024 Cola Adjustment Is Smaller Than Last Year’s, Which Was 8.7%.
Images References :
Each Year, Social Security Bases The Cola On Changes In The Consumer Price Index.
How the cola is applied to social security retirement benefits;
The Increase Will Appear In Checks Paid On August 1.