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The Social Security Administration announced today that the 2020 COLA will be just 1.6 percent, continuing the worrisome trend in which COLAs have averaged just 1.4 percent from 2000 to 20"Adequate COLAs are critical to retirement security," says Mary Johnson, a Social Security policy analyst for The Senior Citizens League. "Social Security is one of the only types of retirement income that provides this essential protection against rising costs. "When a retiree's costs rise faster than their COLA, the buying power of Social Security benefits erodes, leaving people with a benefit that doesn't go as far as it did when they first retired," Johnson notes. According to research by Johnson, Social Security benefits have lost 33 percent of buying power since 2000..Shop the bulk bins: Stores like Whole Foods have bulk foods like dry beans, oatmeal, rice and spices. You can buy as much or as little as you need, which helps ensure freshness and flavor when cooking for one or two. Frequently the price per pound when buying bulk is much lower than packaged goods, but compare..Medicare Part B premiums are getting set to make one of the biggest jumps in 14 years, according to new analysis from The Senior Citizens League. While the Social Security cost-of-living adjustment will increase benefits by 1.6 percent in 2020, Medicare Part B premiums are climbing by 6.7 percent, "more than four times faster than the COLA," says Medicare and Social Security policy analyst, Mary Johnson..To address the growing issue of inaccurate COLAs, TSCL believes Congress must adopt the Consumer Price Index for Elderly Consumers Act. This bipartisan bill from Congressman John Garamendi would better protect the purchasing power of Social Security benefits by basing the COLA on the spending patterns of retirees..However, it remains uncertain whether lawmakers will be capable of negotiating the details of a long-term spending plan in just two weeks. Should they fail to do so, they will either need to pass a short-term continuing resolution to keep the government operating or allow the federal government to shut down..This week, TSCL endorsed the Social Security Fraud Prevention Act, sponsored by Congressman David Valadao. If signed into law, the bill would prevent instances of identity theft by removing or partially redacting Social Security numbers from government-issued documents..Get the Seasonal Flu Vaccine but Not Just Yet.Disabled survivors benefits for a spouse and/or divorced spouse based on the deceased account..Instead of the sweeping legislation supported by the House Democratic leadership they have indicated supported for more modest measures that already have some Republican support. Those include things like capping Medicare enrollees' out-of-pocket drug costs.