Social Security Admin dropping its cost-of-living adjustment to 1.6%

The Social Security Administration said Thursday it’s dropping its cost-of-living adjustment to 1.6% for 2020.

A 1.6% adjustment equals about $23 more a month for someone receiving the average retirement benefit, which is $1,460 a month.

Not everyone will see much of an increase. The Medicare Trustees expect a $9 a month increase for its Medicare Part B premium. That means those who receive a small COLA, based on their monthly benefit, may not receive any adjustment at all — the premium comes out of Social Security benefits.

https://www.marketwatch.com/story/social-security-administration-announces-lower-cola-than-the-past-two-years-2019-10-10?mod=mw_latestnews
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I should get about an increase of $20.

My Section 8 assistance was cut this year
equal to the increase I got from Social Security in January 2019.

One hand giveth,
the other hand takes away.