Social Security benefits will increase by 3.2% in 2024 as inflation moderates

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Social Security benefits will increase by 3.2% in 2024 as inflation moderates
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Millions of Social Security recipients will get a 3.2% increase in their benefits in 2024

FILE - The U.S. Social Security Administration office is seen in Mount Prospect, Ill., Oct. 12, 2022. About 71 million people including retirees, disabled people and children receive Social Security benefits. , far less than this year's historic boost and reflecting moderating consumer prices.

About 71 million people — including retirees, disabled people and children — receive Social Security benefits. There have been legislative proposals to shore up Social Security, but they have not made it past committee hearings.

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