Don’t Toss Your COLA Letter From December. You Might Need It

If you’re going through old mail to throw away, think twice before tossing your cost-of-living adjustment increase letter in the trash. You might need it later this year.

The letter from the Social Security Administration shows how much your new benefit amount should be for 2024, and you may need to use it if you’re planning to apply for loans or energy assistance. 

Just as important, if the COLA payments you’ve received so far this year haven’t been what you expected, you can make an appeal to the Social Security Administration and use your COLA letter to show proof of the intended payment amount. For more details about your Social Security benefits, use this cheat sheet to understand your 2024 benefits. Also, find out if you actually need to file your taxes this year.

I didn’t receive my COLA letter in the mail. Now what?

The Social Security Administration told CNET that it sent out letters in the mail throughout December, so you should have already received your notice.

If you think you may have tossed or misplaced it, contact the Social Security Administration as soon as possible. The agency can help you track down where the letter is or replace it if it’s lost.

Can I find my new Social Security benefit amount online somewhere?

You might be able to find your 2024 benefit amount online if you had an online My Social Security account set up before Nov. 15, 2023. If so, you’ll be able to access your statement in the Messages Center. Otherwise, you’ll need to wait for a new letter to arrive after you request it.

For more, find out whether the COLA increase will affect your taxes this year. Additionally, if you expect to get a tax refund this year, here’s the quickest way to get it.