Social Security Benefit Recipients to Get Small Raise

Social Security Benefit Recipients to Get Small Raise

The Social Security Administration has just announced that those who receive Social Security Retirement, Social Security Disability, or Supplemental Security Income (SSI) will be getting a 1.6% raise in 2020.

The 1.6 percent cost-of-living adjustment (COLA) will begin in January 2020 for the more than 63 million people who receive Social Security Retirement and Disability benefits. The maximum Social Security benefit will increase to $3011 a month.

Increased payment...