Standard Cost Of Living Increase 2024

Standard Cost Of Living Increase 2024. All social security and ssi beneficiaries, including those receiving spousal benefits, automatically receive a cost of living adjustment increase. Payscale found merit and performance will be the highest driver of base pay increases in 2024, with 79% of companies listing it as a factor, compared to market.

Payscale found merit and performance will be the highest driver of base pay increases in 2024, with 79% of companies listing it as a factor, compared to market. With the expected adjustment for cost of living for 2024 at 8.7%, if you give an employee an annual salary increase of $10,000, you will need to adjust that amount.