Social Security Administration announces cost-of-living adjustments for 2020 will be 1.6 percent

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

That is less than what retirees have received in recent years.

In 2019, recipients got a 2.8 percent bump.

Still, it's better than zero, which retirees say in 2010, 2011, and 2016.

The 2020 increase is in line with an estimate released last month.

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