Social Security rates to change in 2020

(MGN photo)

Wis. (WEAU)— Social Security rates will increase in 2020.

The Social Security National Press Office says those on social security will receive a 1.6% cost of living adjustment for the year 2020, based on the third quarter of 2018 through 2019.

The tax rate for employee for 2019 and 2020 is at 7.65% and for self-employed individuals will be 15.30%.