A 2% Social Security COLA for 2020? “Fuggedaboutit”.
Dan Caplinger of The Motley Fool does not see even a 2% cost of living adjustment (COLA) for Social Security recipients to be announced this October for 2020. He notes it would take a huge run up in September prices for the average of July-September inflation to compute to a 2% COLA. The federal government takes a metric known as the CPI-W index readings for those months and then averages the three numbers together. As Caplinger states, “Many retirees were ecstatic about seeing a 2.8% raise in their monthly checks in 2019. Unfortunately for them, that’s not going to happen again in 2020.” Read full piece here.
Notice: The link provided above connects readers to the full content of the posted article. The URL (internet address) for this link is valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the link’s validity. Also, the opinions expressed in these postings are the viewpoints of the original source and are not explicitly endorsed by AMAC, Inc.; the AMAC Foundation, Inc.; or socialsecurityreport.org.