As soon as the Cost-of-Living Adjustment (COLA) was announced for 2019, the speculation started swirling around what seniors could expect to see in 2020. Early projections were bleak, with many predicting no COLA at all.
But not so fast. While the official COLA won’t be announced until next month, there are two estimates that are currently being circulated that are reassuring seniors they may see a COLA in 2020 after all.
Mary Johnson, senior policy analyst at The Senior Citizens League, is currently predicting a 1.7% COLA, while the Social Security Board of Trustees report is forecasting 1.8%.
To hear more about the current predictions, and why the COLA for 2020 may be more than originally anticipated, check out this article from The Motley Fool.