6 Social Security Changes Coming in 2024

Social Security changes coming in 2024
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6. Higher earnings test

If you are still working after you have filled out your Social Security benefits, then you might want to hear about this. The Social Security changes coming in 2024 will also bring earnings tests that are based on your current income.

The SSA reports that in 2024, the earnings excluded from the retirement earnings test will increase to $22,320 from $21,240 in 2023. These tests are made to help your earnings adjust better to the current economic landscape, and considering inflation, this is a much-needed change.

In case you want to know even more details about the higher earnings, we are here to help. So, benefits withhold $1 for each $2 beyond the above-mentioned cap in earnings. But these rules will no longer apply once you reach retirement age. Imagine it as a tool that helps you adjust as you transition to a new phase of your life.

Every year comes with changes, but it is easy to notice that the Social Security changes coming in 2024 are for the better. Almost all of them are increases in benefits, and this is particularly good considering our current economy.

What do you think about these Social Security changes coming in 2024? Tell us your thoughts in the comments section.

If you want to learn more about Social Security, this book might help you: Social Security For Dummies

You should also read: Medicare Open Enrollment: 8 Things You Should Know

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4 thoughts on “6 Social Security Changes Coming in 2024”

  1. COLA does not even come close to helping with the rising food, Gas, electric, Heating oil,
    and almost everything else .Government algorithms are for the birds

  2. how do we get SSA to make changes. I could not get my deceased husband’s monthly SS because I receive a Federal Gov. retirement. they have some kind of formula to determine eligibility. do we need to vote on any changes, write to someone to make the changes.? I’m sure there are more like me in this situation

    1. Barbara, the same happened to me. It is called the Government Pension Offset (GPO)

      Government Pension Offset (GPO) – If
      you qualify for benefits as a current or
      former spouse, widow, or widower, the
      GPO may reduce or eliminate your
      benefits. Jan 20, 2024

      The bipartisan Social Security Fairness
      Act — which now has 308 cosponsors
      would eliminate both the WEP and the
      GPO, two provisions of the Social
      Security Act that unfairly reduce or
      eliminate Social Security benefits for
      millions of Americans who have devoted
      much of their careers to public service.

      Make your vote count. 🗳

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