Some excerpts from Social Security's notice of cost of living and other adjustments for 2017, which will appear in the Federal Register tomorrow:
- The maximum Federal Supplemental Security Income (SSI) monthly benefit amounts for 2017 under title XVI o f the Act will be $735 for an eligible individual, $1,103 for an eligible individual with an eligible spouse, and $368 for an essential person;
- The dollar fee limit for services performed as a representative payee remains at $41 per month ($78 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 2017;
- The dollar limit on the administrative-cost fee assessment charged to an appointed representative such as an attorney, agent, or other person who represents claimants remains at $91 beginning in December 2016;
- The Old-Age, Survivors, and Disability Insurance (OASDI) contribution and benefit base will be $127,200 for remuneration paid in 2017 and self-employment income earned in taxable years beginning in 2017;
- The monthly exempt amounts under the OASDI retirement earnings test for taxable years ending in calendar year 2017 will be $1,410 for beneficiaries who will attain their Normal Retirement Age (NRA) ... after 2017 and $3,740 for those who attain NRA in 2017;
- The taxable earnings a person must have to be credited with a quarter of coverage in 2017 will be $1,300;
- The monthly amount deemed to constitute substantial gainful activity (SGA) for statutorily blind persons in 2017 will be $1,950. The corresponding amount for non-blind disabled persons will be $1,170;
- The earnings threshold establishing a month as a part of a trial work period will be $840 for 2017;
- The cost-of-living increase is 0.3 percent for benefits under titles II and XVI of the Act. Under title II, OASDI benefits will increase by 0.3 percent for individuals eligible for December 2016 benefits, payable in January 2017.