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Social Security Benefits Set to Increase in 2024

In a welcome development for millions of Americans relying on Social Security, the Social Security Administration has recently announced a substantial increase in retirement and disability benefits. Starting in January 2024, recipients will see a significant boost, with benefits set to rise by 3.2%, translating to an average increase of more than $50 a month.

This cost-of-living adjustment (COLA) marks a helpful step in ensuring financial stability for retirees and individuals with disabilities, impacting over 71 million Social Security beneficiaries across the nation.

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