This Social Security Change in 2020 Will Happen for Only the 10th Time in 85 Years
This has been a big week for Social Security beneficiaries. Yesterday, nearly 64 million monthly benefit recipients found out exactly how much of a "raise" they'll be getting in 2020. And while it's nowhere near as robust as the cost-of-living adjustment (COLA) that was passed along this year, it's far and away better than the 0% COLA passed along in 2010, 2011, and 2016, or the minuscule 0.3% COLA in 2017.
However, Social Security's COLA reveal also means it's time to look forward to a host of changes in the program for the following year. For example, the rich will have to hand over a bit more in payroll tax in 2020 than they did in 2019, and the long-term disabled (along with the blind) will be able to earn more each month before their disability checks would be stopped.
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Source Fool.com
