The Social Security Administration announced Thursday that 2020's cost-of-living adjustment will be 1.6 percent, a slight increase from the 1.4 percent average over the past decade. 

This continues a trend of increases over the last three years. In 2018, there was a 2 percent bump followed by a 2.8 percent increase for 2019. In total, about 70 million people will see the increase. 

The 1.6 percent increase matches the number estimated by the Senior Citizens League.