UNITED STATES (WLUC) - Retirees on social security are getting a raise.
The Social Security Administration says millions of retirees will see a modest 1.6 percent cost-of-living increase in 2020. That's about $24 more a month.
This news also has political consequences in an election year. Democrats are pushing more generous inflation protection, along with better benefits overall.
After a significant boost this year, the cost-of-living adjustment, or COLA, for 2020 is reverting to its pattern of moderate gains.
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