Current Projected Cola For 2024. For context, the average retired worker collects around $1,900 per month, as of june 2024. Social security benefits and supplemental security income (ssi) payments for more than 71 million americans will increase by 3.2% in 2024.
In 2023, it was 8.7%. The current social security cola projection for 2025 is 2.63%, according to the senior citizens league.
Increased Payments To Approximately 7.5.
This exercise suggests a 2024 cola between 3.0% and 3.8%.
Independent Social Security And Medicare Analyst Mary Johnson Previously Projected The 2025 Cola Would Be 3%.
For now, i’m going with 3.4%.
Current Projected Cola For 2024 Images References :
With The 3.2% Cola, The Average Social Security.
How much is the increase:
While The Cola Increase Will Boost Social Security Benefits, It Is Anticipated That The Standard Medicare Part B Premium Will Also Rise.
A cola of 3.2% would raise the average monthly retiree benefit by about $59.