Social Security benefits to receive 1.6% increase for 2020
Recipients of Social Security may notice an increase of their benefits for 2020, according to the SSA. A cost-of-living adjustment of 1.6 percent is set to be added to benefits payable to more than 63 million beneficiaries beginning in January 2020. Increased benefits to more than 8 million SSI recipients will begin on December 31. (Please note that some people receive both benefits.) The Social Security Act ties the annual increase to the increase in the Consumer Price Index, as […]