Social Security Increase 2024 Amount Chart. The social security administration’s annual cost of living adjustment for 2024 is 3.2%, reflecting a more moderate rate of inflation than the price jumps that necessitated last year’s 8.7%. Of course, this increase is in response to the rising cost of.
Consequently, workers who make $200,000 per year pay exactly the same amount in social security taxes as workers who make $2 million. 42 rows see how we use earnings to compute a retirement benefit amount.