The announcement of the 2024 cost-of-living increase is expected in October.
Social Security benefits are adjusted for inflation every year, but the index the program is tied to doesn’t always result in the largest possible increase for retirees.
The current estimate for next year’s Social Security COLA is 3%, compared with 4% if it followed the CPI-E, according to the Senior Citizens League. Rep. John Larson, a Democrat from Connecticut, this year reintroduced his proposed Social Security 2100 Act, which is aimed at fixing the program’s current insolvency issue and improving it for beneficiaries. Social Security’s two trust funds, which support the program’s retired and disabled beneficiaries, are expected to run out of money in the next 11 years, and if Congress does nothing, beneficiaries could see a 20% benefit cut.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Q&A: Professor discusses the social side of intelligenceIntelligence can mean many things. For most people, it describes the general ability to learn and use knowledge in different areas, such as technology, science, and even personal relationships. At the Beckman Institute for Advanced Science and Technology, researchers study the origins of human intelligence, develop artificially intelligent systems, and even question what it means to be intelligent at all.
Read more »
Celebrity Couples Who Met on Social MediaFrom Dua Lipa and Anwar Hadid to Sarah Hyland and Wells Adams, these are the celebrity couples who met on social media
Read more »
Portage school board joins social media litigationThe Portage Township School Board joined a class-action suit against social media companies aimed at addressing mental health issues in schools.
Read more »
Patriots' Matthew Judon stirs social media controversy with strong Ariana Grande takeNew England Patriots linebacker Matthew Judon appeared to take a shot at Ariana Grande over her re-release of the song 'The Way,' which features the late Mac Miller
Read more »
Jaden Smith Skips China Events After State-Controlled Social Media Calls Him RacistJaden Smith canceled events in China after a mysterious user of a regime-controlled social media application accused him of being racist.
Read more »