§1382f Cost-of-living Adjustments in Benefits

Summary

When benefit payments under subchapter II go up for any month because of a decision under section 415(i), five specific dollar amounts in law (the four in section 1382 and one in section 211 of Public Law 93–66) must be adjusted. First, each amount is raised by the small difference caused by prior rounding. Then that raised amount is increased by the same percentage used for the subchapter II benefit increase, or by the larger percentage that would apply if the increase were based on the CPI instead of wages. After that increase, if the number is not a multiple of $12 it is rounded down to the next lower multiple of $12. The further increase takes effect for months after the month used in the 415(i) decision. The new dollar amounts must be published in the Federal Register at the same time as the materials required by section 415(i)(2)(D). Effective July 1, 1983, the dollar amounts in section 1382(a)(1)(A) and 1382(b)(1) are each increased by $240 (and the amount in section 211(a)(1)(A) is increased by $120), and the amounts in section 1382(a)(2)(A) and 1382(b)(2) are each increased by $360.