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Social Security COLA for 2020: Blame Bureau of Labor Statistics, DOL
Stay up to date while navigating the crucial yet complicated world of Social Security.
New Congressional Budget Office analysis of the Social Security 2100 Act shows the bill would delay, but not avoid, exhaustion of the two trusts that fund scheduled benefits to retirees and disabled Americans.
Under existing law, CBO projects Social Security’s primary OASDI trust fund will be depleted in 2032, leading to a 24 percent reduction in benefits for all retirees in 2033.
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