The 2024 Social Security changes have been announced by the Social Security Administration (SSA), and there is some important information that seniors should know about.

For one, the 3.2 percent cost-of-living adjustment (COLA) will take effect on December 29. This equates to a benefit increase of over $50 per month. About 7.5 million are currently receiving benefits.

The SSA also announced an increase in taxable income thresholds. The number will increase to $168,000, from $160,200.

Benefit increase announcements will be delivered by mail. Users can also check them out on the SSA’s website.

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