Cola Increase 2024. Since 1975, social security's general benefit increases have been based on increases in the cost of living, as measured by the consumer price index. 12 rows  โ€” the awi is used to index an individual's earnings through age 60 in the benefit calculation formula, and the cola is used to increase benefits annually.


Cola Increase 2024

 โ€” the senior citizens league said wednesday that the social security cost of living adjustment, or cola, will likely be 3.2% for 2024. Beginning in january 2024, checks reflecting those increases.

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