Cost of Living Adjustment increases 1.6% in 2020, Contribution Base increased to $137,700

With the release of the CPI report this morning, we now know the Cost of Living Adjustment (COLA), and the contribution base for 2020. From Social Security: Social Security Announces 1.6 Percent Benefit Increase for 2020 Social Security and Supplemental Security Income (SSI) benefits for nearly 69 million Americans will increase 1.6 percent in 2020, the Social Security Administration announced today. 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. Increased payments to more than 8 million......(read more)

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