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Social Security COLA for 2024

COLA tells us that all social security beneficiaries are getting more money in 2024.
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Social Security COLA for 2024
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Tom Margenau
Updated:
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In mid-October every year, the Bureau of Labor Statistics releases its much-anticipated report on changes (usually increases) to the Consumer Price Index over the past 12 months. Why is this little, esoteric government report—actually called the Consumer Price Index for Urban Wage Earners and Clerical Workers—so popular?

Because for the past 49 years, it’s the report that determines the cost-of-living adjustment (COLA) that Social Security beneficiaries will get the following year.

Tom Margenau
Tom Margenau
Author
Tom Margenau worked for 32 years in a variety of positions for the Social Security Administration before retiring in 2005. He has served as the director of SSA’s public information office, the chief editor of more than 100 SSA publications, a deputy press officer and spokesman, and a speechwriter for the commissioner of Social Security. For 12 years, he also wrote Social Security columns for local newspapers, and recently published the book “Social Security: Simple and Smart.” If you have a Social Security question, contact him at [email protected]
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