Cola 2024 Increase Announcement For Retirees

Cola 2024 Increase Announcement For Retirees. Social security benefits will increase by 3.2% in 2024, the social security administration announced thursday morning. Baltimore — eligible payees (retirees and beneficiaries) of the maryland state retirement and pension system will notice a boost in their monthly allowance.

For the year 2024, annuitants who retired under csrs will receive 3.2 percent increase and those who retired under fers will receive a 2.2 percent increase. Social security and supplemental security income (ssi) benefits for more than 71 million americans will increase 3.2 percent in 2024.