Office of the Commissioner; 1999 Cost-of-Living Increase and Other Determinations

Résumé

The Commissioner has determined-- (1) A 1.3 percent cost-of-living increase in Social Security benefits under title II of the Social Security Act (the Act), effective for December 1998; (2) An increase in the Federal Supplemental Security Income (SSI) monthly benefit amounts under title XVI of the Act for 1999 to $500 for an eligible individual, $751 for an eligible individual with an eligible spouse, and $250 for an essential person; (3) The national average wage index for 1997 to be $27,426.00; (4) The Old-Age, Survivors, and Disability Insurance (OASDI) contribution and benefit base to be $72,600 for remuneration paid in 1999 and self-employment income earned in taxable years beginning in 1999; (5) For beneficiaries under age 65, the monthly exempt amount under the Social Security retirement earnings test for taxable years ending in calendar year 1999 to be $800; (6) The dollar amounts (``bend points'') used in the benefit formula for workers who become eligible for benefits in 1999 to be $505 and $3,043; (7) The dollar amounts (``bend points'') used in the formula for computing maximum family benefits for workers who become eligible for benefits in 1999 to be $645, $931, and $1