Social Security COLA for 2020 will be 1.6 percent
Benefits and taxable wages to increase by the smallest amount in three years.
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
Learn more about reprints and licensing for this article.