"Latest Social Security Updates: New Changes and COLA Increases Impacting Checks in 2024"

Social Security is undergoing seven key changes, including a 3.2% cost-of-living adjustment (COLA) for benefits, an increase in the maximum taxable earnings cap to $168,600, and a rise in the maximum monthly payout at full retirement age to $3,822. Additionally, two states have stopped taxing Social Security benefits, early-filer withholding thresholds have increased, disability income thresholds have risen, and the amount of earnings required to qualify for a Social Security benefit has also increased. These changes aim to adjust for inflation and provide a more robust safety net for retirees and disabled workers.