Millions of Social Security recipients will get a 3.2% increase in their benefits in 2024. That's far less than this year’s historic boost and reflects moderating consumer prices. The Social Security Administration says recipients will get more money every month, beginning in January.
FILE - A Social Security card is displayed on Oct. 12, 2021, in Tigard, Ore. About 71 million people including retirees, disabled people and children receive Social Security benefits. FILE - The U.S. Social Security Administration office is seen in Mount Prospect, Ill., Oct. 12, 2022. About 71 million people including retirees, disabled people and children receive Social Security benefits. FILE - A Social Security card is displayed on Oct. 12, 2021, in Tigard, Ore.
About 71 million people — including retirees, disabled people and children — receive Social Security benefits.Stock market today: Global shares rise with eyes on prices, war in the Middle East“Retirees can rest a little easier at night knowing they will soon receive an increase in their Social Security checks to help them keep up with rising prices,” AARP CEO Jo Ann Jenkins said. “We know older Americans are still feeling the sting when they buy groceries and gas, making every dollar important.
There have been legislative proposals to shore up Social Security, but they have not made it past committee hearings.
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