2024 Social Security COLA Update

The 2024 COLA could be 2.7%

July 2023 is the first month of the third quarter that actually counts in the 2024 COLA calculation

Based on the CPI-W for July 2023 (299.899) the 2024 COLA is calculated this way.

299.899 – 291.90) / 291.90 x 100 = 2.74 to the nearest 1/10 of 1 percent = 2.7%

5 comments

  1. 2.7 percent seems paltry, like, not even worth the bother. Except, it adds up. Since I retired, my SS benefit has increased over 30 percent.

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  2. Finally, a month that actually means something when it comes to the 2024 COLA calculation. This after 7 meaningless guesstimates (using CPI for months not being in the actual 2024 COLA calculation) posts.
    0% in Jan
    0.05% in Feb
    3% in Mar
    1.4% in Apr
    2% in May
    2.2% in Jun
    2.6 in Jul

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