Social Security Cola 2024 Adjustment Calculator. A 3.2% cola for 2024 would increase an average monthly retiree benefit of $1,790 by $57.30, the tscl said. The amounts required for updating the 2022 versions of the social security benefit calculator are as follows:

A 3 percent adjustment would boost the average social security retirement benefit — $1,839 a month in july 2023 — by about $55 a month in 2024. This is significantly lower than the 2023.