Office of the Commissioner; Cost-of-Living Increase and Other Determinations for 2008

Resumo

The Commissioner has determined-- (1) A 2.3 percent cost-of-living increase in Social Security benefits under title II of the Social Security Act (the Act), effective for December 2007; (2) An increase in the Federal Supplemental Security Income (SSI) monthly benefit amounts under title XVI of the Act for 2008 to $637 for an eligible individual, $956 for an eligible individual with an eligible spouse, and $319 for an essential person; (3) The student earned income exclusion to be $1,550 per month in 2008 but not more than $6,240 in all of 2008; (4) The dollar fee limit for services performed as a representative payee to be $35 per month ($68 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 2008; (5) The dollar limit on the administrative-cost assessment charged to attorneys representing claimants to be $79 in 2008; (6) The national average wage index for 2006 to be $38,651.41; (7) The Old-Age, Survivors, and Disability Insurance (OASDI) contribution and benefit base to be $102,000 for remuneration paid in 2008 and self-employment income earned in taxable years beginning