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Friday, October 11, 2019
All Social Security Retirees Will Get a 1.6% Cost Of Living Increase In 2020
All Social Security retirees will receive a 1.6% cost of living (COLA) increase for 2020. For the average retiree that is an increase of $24 monthly. The COLA will be in the January Social Security checks.
Democrats and advocates for seniors feel the COLA does not take into account health care costs and should be higher but its highly unlikely that Congress will pass any adjustments beyond the COLA as they did last year.
Newsday has an article about the Social Security increase Here..