2024 Social Security Cola Increase Disability Pension. Social security is funded through a payroll tax that is split between employers and employees, but there is a cap on taxable income, with this year’s set at $168,600. This adjustment will affect social security retirement, disability, and ssi payments.
What is the 2024 social security cola increase, and does it affect future retirees? This is an automatic update and you don’t need to.