The 2024 cost-of-living adjustment (COLA) increase for Social Security recipients is likely to be a fraction of what it was in 2023 and a disappointment to many seniors, according to a nonpartisan seniors group, which found that some eight in 10 retirees report they’re still reeling from inflation.
The latest COLA estimate from The Senior Citizens League (SCL) is around 3 percent, which amounts to a roughly $54 increase in the current average monthly benefit check of $1,789.
