The cost of living adjustment to 2024 Social Security checks will be 3.2%. For the average retired worker that equates to +$59/month, or +$708/year.

The Social Security cost of living adjustment is indexed to CPI-W, which is larger than the chained-CPI that are used for tax bracket adjustment but calculated at slightly different timeline. You can find the year-by-year history of COLA’s at the Social Security website.