Your Social Security checks could get bigger next year. Here’s how much
Published Thu, Sep 12 2019 11:45 AM EDTUpdated Thu, Sep 12 2019 12:51 PM EDT
Lorie Konish
Social Security benefits could get a 1.6% cost-of-living adjustment in 2020, according to one new estimate.
The Social Security Administration is expected to officially announce its cost-of-living adjustment in October.
The modest increase comes at a time when retirees face a growing problem: diminished buying power.
When it comes to the forecast for your Social Security benefits in 2020, there’s good news and bad news.
Your Social Security checks are poised to grow next year; however, the annual increase likely won’t be as much as you got in 2019.
That’s according to The Senior Citizens League, which on Thursday released its latest estimate for the Social Security cost-of-living adjustment for 2020.
The nonpartisan group estimates that beneficiaries will get a 1.6% boost in 2020, down from a 2.8% increase in 2019.
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https://www.cnbc.com/2019/09/12/social-security-checks-may-get-a-1point6percent-bump-next-year.html
