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Social Security COLA For 2020 Will Be 1.6 Percent

TedTed
in The Bullpen
FYI: The Social Security Administration announced Thursday that benefits and the maximum amount of wages subject to payroll taxes will increase by 1.6% in 2020, more than a full percentage point less than the 2.8% cost-of-living adjustment posted this year. It marks the smallest annual increase in Social Security benefits and payroll taxes since 2017, when the COLA was 0.3%.
Regards,
Ted
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