Social Security Administration announces 2020 COLA

Yesterday the Social Security Administration announced upcoming changes to Social Security, including the highly anticipated 2020 cost-of-living adjustment (COLA).

Seniors will get modest cost-of-living increase from Social Security in 2020

Seniors and advocates complain that the inflation yardstick used to determine the annual adjustment doesn't adequately reflect their costs, mainly for health care.

PBS News

Beginning next year, retirees can expect a modest increase of 1.6% on their Social Security benefits. On average, this will work out to about $24 more per month for most retirees.