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.


Cola 2024 Update

/ 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.

How much will benefits increase next year?

The Group Then Increased That Number To 2.6%.