Average Cost Of Living Adjustment 2024

Average Cost Of Living Adjustment 2024. While not based on job performance or promotion, colas may help employees manage rising prices for basic staples. In 2024, the standard deduction will be $29,200 (for married couples filing jointly), $21,900 (for heads of households), and $14,600 (for singles and married couples filing.

Starting in january, the estimated average monthly retirement benefit will increase by 3.2%, or $59 a month, for 2024 — from $1,848 to $1,907. With inflation continuing to raise concerns in 2024,.