When will the Social Security COLA increase be announced?

(NEXSTAR) – Social Security recipients are already bracing for a lower increase to their 2024 benefits than they received in 2023, but they won’t know exactly how much they’re getting until the Social Security Administration makes its official announcement next month.The administration’s annual cost-of-living adjustments (COLA) are designed to help Social Security and Supplemental Security Income (SSI) recipients retain their buying power amid rising inflation. These incr