COLAs for retirement, Social Security, and health benefits for 2020

The Internal Revenue Service (IRS) has announced the cost-of-living adjustment (COLA) figures for retirement plan benefits for 2020. The Social Security Administration announced its 2020 changes in October based on the Consumer Price Index for the quarter ended September 2019 from the U.S. Bureau of Labor Statistics. The 2020 adjusted figures for high-deductible health plans (HDHPs) and health savings accounts (HSAs) included in this Client Action Bulletin were released by the IRS earlier this year and are provided here for convenience.

Leave a Reply