Social Security Benefits In 2024. If you will reach full retirement age in 2024, the limit on your earnings for the months before full retirement age is $59,520. We apply a formula to this.
As of january 2024, the average monthly benefit is $1,907, so a 17% cut would reduce the typical check to $1,583 โ $324 less per month or $3,888 per year. The 3.2 percent adjustment will amount to a $59 increase.