As inflation lingers, the Social Security Administration is boosting its cost of living adjustment for benefit checks in 2024. And that’s just one of many changes.
More than 71 million people depend on one of Social Security’ s benefit programs, so annual changes to the program and its payouts are always highly anticipated. As inflation lingers, the Social Security Administration is boosting its cost of living adjustment for benefit checks in 2024. It’s just one of many changes announced by Social Security recently.
Specifically, the average check for retired workers will increase from $1,848 to $1,907. For a couple with both partners receiving benefits, the estimated payment will increase from $2,939 to $3,033, a rise of $94. —The SSA says the average widowed mother with two children will see an increase from $3,540 to $3,653.—The benefit will increase for a disabled worker with a spouse and one or more children from $2,636 to $2,720.5. Social Security adjusts earnings test exempt amounts
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