Any word on COLA 2024 yet?

[Redpossum]

I'm referring to the possible increase in Social Security benefits. Have any of you heard anything on this subject yet?

Last year was a healthy one.

 

[gracielle]

I'm referring to the possible increase in Social Security benefits. Have any of you heard anything on this subject yet?

Last year was a healthy one.

10 August 2023
The nonprofit Committee for a Responsible Federal Budget expects an increase of about 3% in 2024, with the potential for the COLA to be higher if gas prices continue to rise. Social Security officials in a March report said they expect next year's benefit increase to be about 3.3%.

 

[SinPulgas]

Current estimates are between 2 and 3 percent, with two months of data still to go. The estimates have been declining all year as inflation in the states has cooled.

 

[gracielle]

10 August 2023
“Current projections are for inflation to tick up slightly in August and then again in September,” says Emerson Sprick, senior economic analyst at the Bipartisan Policy Center. He estimates the 2024 COLA will land at about 3 percent".

 

[SinPulgas]

The Senior Citizens League (TSCL) now estimates the Social Security cost of living adjustment (COLA) 2024 could be 3 percent.

Like others, though, their estimate has been declining all year.

Their estimates are frequently quoted by news organizations because they have had a good track record for accuracy over the years.

 

[Redpossum]

Well, that's disappointing. Still, I suppose it beats a poke in the eye with a sharp stick.

 

[jantango]

I received the benefit amount letter for 2024 in the mail today, and the first deposit with the 3.2% increase.