Nys Retirement Cost Of Living Increase 2024. The maximum benefit for a retired worker who claims at full retirement age will go up to $3,822 per month in 2024, up from $3,627 per month in 2023, according to. Based on total payrolls as reported in the pension system’s 2022 annual comprehensive financial report, this will add about $350 million to the 2024 pension costs of local government and.

$.50 cents in 2025 and 2026. Due to inflation, the cola is rising this year, so the 66 million social security beneficiaries will see a higher benefit starting in january of next year.