Standard Cost Of Living Increase 2024

Standard Cost Of Living Increase 2024. Included with the chart are several key issues plan sponsors may want to consider before the end of the year. Each year, the irs, social security administration, and other federal agencies adjust policies to account for inflation.

Employers plan to raise compensation budgets in 2024 by 3.5% for merit increases and 3.9% for total. That will add about $57 to the average current monthly social.