What Is The Cola Rate For 2024. The average monthly retirement benefit will increase from $1,848 to $1,907, and the average benefit. The average beneficiary will see a $54 increase in their benefit amount.
โ as a result, benefits will rise by 3.2 percent starting in 2024. An individual’s annual benefit would increase to $10,320 in 2024 if they received $10,000 in social security benefits in 2023.
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