When the 2024 Social Security COLA Increase Will Start
The Social Security Administration has announced a 3.2 percent cost-of-living adjustment (COLA) for 2024. The average Social Security retirement benefit will increase by about $50 per month next year. So, when can retirees start to see this extra money?
As AL.com explains, Social Security benefits are paid depending upon your day of birth. If you are born between the 1st and 10th, you receive benefits on the second Wednesday of the month. Birth dates between the 11th and 20th receive payment on the third Wednesday and people born on the 21st through the 31st receive their benefits on the fourth Wednesday of the month.
The Seniors Trust is committed to improving the financial well-being of America’s retirees through the passage of The Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual COLA, and increased minimum benefits. This bill will ensure the long-term solvency of the Social Security program.
