WASHINGTON (MarketWatch) - Americans who collect Social Security are expected to receive a 1.6% increase in their monthly payouts in 2020, based on an unofficial look at how cost-of-living adjustments are calculated. Annual increases in Social Security are determined every year based on changes in a component of the consumer price index known as CPI-W. The final CPI report on which the calculations are made was released Thursday. The extra benefits kick in on Jan. 1. Social Security recipients got a 2.8% cost-of-living adjustment in 2019.
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