REPORT: Social Security announces Cost of Living increase for 2020

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BY TEAM DML / DECEMBER 7, 2019 /

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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by NBC25NEWS.COM:

LYNCHBURG, Va. (WSET) — The Social Security Administration announced Social Security and Supplemental Security Income (SSI) benefits for nearly 69 million Americans will increase 1.6 percent in 2020.

The administration said the 1.6 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 63 million Social Security beneficiaries in January 2020 and increased payments to more than 8 million SSI beneficiaries will begin on December 31, 2019.

The article goes on to state the following:

Social Security and SSI beneficiaries are normally notified by mail in early December about their new benefit amount. Most people who receive Social Security payments will be able to view their COLA notice online through their my Social Security account. People may create or access their my Social Security account online.

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Check the SS website for more details.


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5 Comments

  1. John December 7th, 2019 at 11:22 am

    The raise immediately swept away by a greater cost in insurances. SMH.

    Reply

  2. Allan McCarty December 7th, 2019 at 7:35 pm

    A whopping $11.00 a month increase.

    Reply

  3. Doug McDowell December 8th, 2019 at 8:59 am

    Since the ACTUAL INFLATION RATE IN THE US IS BETWEEN 8-10% ( CHAPWOOD INDEX), THIS SS INCREASE IS A JOKE !!

    Reply

  4. Douglas Schmitt December 8th, 2019 at 6:41 pm

    The increase in the deduction for insurance is better than twice what you will get, so where is the increase……what a joke…..

    Reply

  5. Elaine Bigot December 9th, 2019 at 11:23 am

    This increase is ridiculous! I’m have no choice but to live on Social Security and can barely make ends meet now. This increase is a joke! While Obama was in office I don’t remember ever receiving an increase in our SS but inflation continued to get higher and higher. They should have at least given us an increase somewhat equivalent to all the years we NEVER received an increase to at least bring us up to date with the inflation rate. After all I worked all my life (from 16 to 65) and paid into SS and IT IS MY MONEY! Stop spending my SS money foolishly on wars and other things. And while we’re at it…stop spending our tax dollars on investigations and “sham” impeachments. And to all the “do nothing” Democrats in Congress, get off your asses and get on with governing our country!

    Reply

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