Social Security Benefits Will Rise 3.2% in 2024

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“More than 71 million Americans receiving Social Security benefits will see their checks rise by 3.2 percent next year to help them keep pace with inflation, the Social Security Administration said on Thursday. That’s more than the typical cost-of-living adjustment but a significant drop from the record-setting bump of 8.7 percent in 2023 amid rampant inflation. Starting in January, retired workers’ average benefit will rise by $59 monthly to $1,907, up from $1,848.”

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