Do not Lose That COLA Letter You Obtained in December 2023. Here is Why You Wish to Preserve It

On the finish of final yr, the Social Safety Administration mailed an vital letter to all Social Safety beneficiaries about their new cost-of-living adjustment increase.  You could want it this yr, so put that piece of mail in your COLA  info in a protected place.

The letter from the administration reveals how a lot your new profit quantity needs to be for 2024, and it’s possible you’ll want to make use of it for those who’re planning to use for loans or power help. 

Simply as vital, if the first COLA payment you acquired in January wasn’t what you anticipated, you can also make an enchantment to the Social Safety Administration and use your COLA letter to point out proof of the meant fee quantity. For extra particulars about your Social Safety advantages, use this cheat sheet for understanding your 2024 benefits. Additionally, discover out for those who truly must file your taxes this year.

I did not get my COLA letter within the mail. Now what?

The Social Safety Administration advised CNET that it despatched out letters within the mail all through the month of December, so you need to have already acquired your discover.

Nonetheless, for those who suppose you will have tossed or misplaced it, contact the Social Safety Administration as quickly as potential. The company might help you observe down the place the letter is or change it if it is misplaced.

Is my new Social Safety profit quantity on-line someplace?

You would possibly be capable to discover your 2024 profit quantity on-line for those who had a web-based My Social Security account arrange earlier than Nov. 15, 2023. If that’s the case, you’ll entry your assertion within the Messages Heart. In any other case, you may want to attend for a brand new letter to reach after you request it.

For extra, discover out whether or not the COLA increase will affect your taxes this year. Moreover, for those who count on to get a tax refund this yr, here’s the quickest way to get it.