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Social Security’s 2020 Cost of Living Increase – An early prognostication
Well, here we are just barely into the 3rd quarter of 2019 and pundits are already forecasting what next year’s Cost of Living Adjustment (COLA) will be for Social Security recipients. COLA increases each year are determined by the difference between this year’s CPI-W index for the 3rd quarter (the months of July, August and September) compared to the CPI-W index for the same period last year. If this year’s index for those 3 months is sufficiently higher than last year’s, a COLA increase will be given. But even though we’re barely 2/3 of the way into that measurement period, this Motley Fool article offers an early prediction that we can expect a raise of about 1.6 to 1.7% next year. However, will this help seniors keep up with inflation? Not really, according to article author Sean Williams. Click here to read more.
Will my SSDI benefits post on August 30th, if I get them on September 3rd 2019, due to the Labor day holiday?
Nancy:
Thanks for contacting us. Since the regular date for Social Security payments is not a holiday, there will likely be no change in the schedule. You can access the official schedule for benefits payments at https://www.ssa.gov/pubs/EN-05-10031-2019.pdf. The section at the bottom of the chart explains the coding used in the upper part. If we can help you any further, please contact our Social Security Advisory Service at 888-750-2622.
Gerry Hafer
AMAC Foundation, Inc.
Social Security Advisory Service