Skip to Content

Social Security cost-of-living adjustment coming — but it won’t be as big as this year’s

Associated Press

WASHINGTON (AP) — Social Security’s cost-of-living increase for 2024 will be announced Thursday. But retirees won’t see anything close to the 8.7% increase that they got this year. With consumer prices moderating, analysts are forecasting that the 2024 increase will be around 3.2%  The cost-of-living announcement comes as the Social Security program continues to be on shaky financial footing. The annual Social Security and Medicare trustees report released in March said the program’s trust fund will be unable to pay full benefits beginning in 2033. If the trust fund is depleted by then, the government will be able to pay only 77% of scheduled benefits, the report said.

Article Topic Follows: AP National

Jump to comments ↓

Author Profile Photo

Associated Press


KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content