REPORT: Social Security announces Cost of Living increase for 2020

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.

Check the SS website for more details.


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