Social Security Increase 2024 Bills

Social Security Increase 2024 Bills. Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct. The social security fairness act would repeal rules known as the windfall elimination provision (wep) and.

That adds about $50 monthly to the average retirement benefit consumers. The new cola will take effect in january 2024, and the average retired worker will see his or her benefit amount increase from $1,848 per month to $1,907 per.