Office of the Commissioner; Cost-of-Living Increase and Other Determinations for 2007

Samenvatting

The Commissioner has determined-- (1) A 3.3 percent cost-of-living increase in Social Security benefits under title II of the Social Security Act (the Act), effective for December 2006; (2) An increase in the Federal Supplemental Security Income (SSI) monthly benefit amounts under title XVI of the Act for 2007 to $623 for an eligible individual, $934 for an eligible individual with an eligible spouse, and $312 for an essential person; (3) The student earned income exclusion to be $1,510 per month in 2007 but not more than $6,100 in all of 2007; (4) The dollar fee limit for services performed as a representative payee to be $34 per month ($66 per month in the case of a beneficiary who is disabled and has an alcoholism or drug addiction condition that leaves him or her incapable of managing benefits) in 2007; (5) The dollar limit on the administrative-cost assessment charged to attorneys representing claimants to be $77 in 2007; (6) The national average wage index for 2005 to be $36,952.94; (7) The Old-Age, Survivors, and Disability Insurance (OASDI) contribution and benefit base to be $97,500 for remuneration paid in 2007 and self-employment income earned in taxable years beginning