Social Security benefits will see a 1.6% boost in 2020

It’s official: Your Social Security checks will get a modest increase next year.

The Social Security Administration announced Thursday that the cost-of-living adjustment for 2020 will be 1.6%.

That number is less than what retirees have received in recent years. In 2019, they got a 2.8% bump, while in 2018 the increase was 2%.

Still, it’s better than zero, which retirees saw in 2010, 2011 and 2016.

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