Modest raise coming to those on social security

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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.

To see more of the specifics, check out the related documents section in this article.



 
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