Social Security Adjustment May Be Smaller Than Previously Estimated, Group Says

Blank Social Security checks are run through a printer at the U.S. Treasury printing facility in Philadelphia, Pa., on Feb. 11, 2005. William Thomas Cain/Getty Images

A seniors group said that Social Security’s cost-of-living adjustment (COLA) might be smaller for 2024 than previously estimated.

The Senior Citizen’s League said the latest data from the U.S. Bureau of Labor Statistics suggests that the COLA, which will be announced later this year, will likely be around 2.7 percent. The previous estimate from the Senior Citizen’s League, released in May, was 3.1 percent.