Rate for Assessment on Direct Payment Fees to Representatives in 2012, 81003 [2011-33099]

Download as PDF Federal Register / Vol. 76, No. 248 / Tuesday, December 27, 2011 / Notices rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission’s Public Reference Room, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File No. SR–C2–2011–40 and should be submitted on or before January 17, 2012. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.12 Kevin M. O’Neill, Deputy Secretary. Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rulecomments@sec.gov. Please include File No. SR–C2–2011–40 on the subject line. sroberts on DSK5SPTVN1PROD with NOTICES date of filing. However, pursuant to Rule 19b–4(f)(6)(iii) 10 the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest. Waiving the operative delay will allow the pilot program to continue on C2 uninterrupted, which will avoid the investor confusion that could result from an interruption in the pilot. For this reason, the Commission designates the proposed rule change as operative upon the date of this notice.11 At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. SOCIAL SECURITY ADMINISTRATION Paper Comments • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File No. SR–C2–2011–40. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (https://www.sec.gov/ (SSA). 10 17 CFR 240.19b–4(f)(6)(iii). purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 11 For VerDate Mar<15>2010 22:00 Dec 23, 2011 Jkt 226001 [FR Doc. 2011–33053 Filed 12–23–11; 8:45 am] BILLING CODE 8011–01–P [Docket No. SSA–2011–0097] Rate for Assessment on Direct Payment Fees to Representatives in 2012 AGENCY: ACTION: Social Security Administration Notice. We are announcing that the assessment percentage rate under Sections 206(d) and 1631(d)(2)(C) of the Social Security Act (Act), 42 U.S.C. 406(d) and 1383(d)(2)(C), is 6.3 percent for 2012. FOR FURTHER INFORMATION CONTACT: Jeffrey C. Blair, Associate General Counsel for Program Law, Office of the General Counsel, Social Security Administration, 6401 Security Boulevard, Baltimore, MD 21235–6401. Phone: (410) 965–3157, email Jeff.Blair@ssa.gov. SUPPLEMENTARY INFORMATION: Individuals claiming Social Security SUMMARY: 12 17 PO 00000 benefits or Supplemental Security Income payments may choose to hire representatives to assist them with their claims. If the claim is successful and the individual was represented either by an attorney or by a nonattorney representative who has met certain prerequisites, the Act provides that we may withhold up to 25 percent of the past-due benefits payable on the claim and use that money to pay the representative’s approved fee directly to the representative. When we pay the representative’s fee directly to the representative, we must collect from that fee payment an assessment to recover the costs we incur in determining and paying representatives’ fees. The Act provides that the assessment we collect will be the lesser of two amounts: a specified dollar limit; or the amount determined by multiplying the fee we are paying by the assessment percentage rate. (Sections 206(d), 206(e), and 1631(d)(2) of the Act, 42 U.S.C. 406(d), 406(e), and 1383(d)(2)). The Act initially set the dollar limit at $75 in 2004 and provides that the limit will be adjusted annually based on changes in the cost-of-living. (Sections 206(d)(2)(A) and 1631(d)(2)(C)(ii)(I) of the Act, 42 U.S.C. 406(d)(2)(A) and 1383(d)(2)(C)(ii)(I)) The maximum dollar limit for the assessment currently is $86, as we announced in the Federal Register on October 25, 2011 (76 FR 66111). The Act requires us each year to set the assessment percentage rate at the lesser of 6.3 percent or the percentage rate necessary to achieve full recovery of the costs we incur to determine and pay representatives’ fees. (Sections 206(d)(2)(B)(ii) and 1631(d)(2)(C)(ii)(II) of the Act, 42 U.S.C. 406(d)(2)(B)(ii) and 1383(d)(2)(C)(ii)(II)) Based on the best available data, we have determined that the current rate of 6.3 percent will continue for 2012. We will continue to review our costs for these services on a yearly basis. Dated: December 8, 2011. Michael G. Gallagher, Deputy Commissioner for Budget, Finance and Management. [FR Doc. 2011–33099 Filed 12–23–11; 8:45 am] BILLING CODE 4191–02–P CFR 200.30–3(a)(12). Frm 00136 Fmt 4703 Sfmt 9990 81003 E:\FR\FM\27DEN1.SGM 27DEN1

Agencies

Social Security Administration

[Federal Register Volume 76, Number 248 (Tuesday, December 27, 2011)]
[Notices]
[Page 81003]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-33099]


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SOCIAL SECURITY ADMINISTRATION

[Docket No. SSA-2011-0097]


Rate for Assessment on Direct Payment Fees to Representatives in 
2012

AGENCY: Social Security Administration (SSA).

ACTION: Notice.

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SUMMARY: We are announcing that the assessment percentage rate under 
Sections 206(d) and 1631(d)(2)(C) of the Social Security Act (Act), 42 
U.S.C. 406(d) and 1383(d)(2)(C), is 6.3 percent for 2012.

FOR FURTHER INFORMATION CONTACT: Jeffrey C. Blair, Associate General 
Counsel for Program Law, Office of the General Counsel, Social Security 
Administration, 6401 Security Boulevard, Baltimore, MD 21235-6401. 
Phone: (410) 965-3157, email Jeff.Blair@ssa.gov.

SUPPLEMENTARY INFORMATION: Individuals claiming Social Security 
benefits or Supplemental Security Income payments may choose to hire 
representatives to assist them with their claims. If the claim is 
successful and the individual was represented either by an attorney or 
by a nonattorney representative who has met certain prerequisites, the 
Act provides that we may withhold up to 25 percent of the past-due 
benefits payable on the claim and use that money to pay the 
representative's approved fee directly to the representative.
    When we pay the representative's fee directly to the 
representative, we must collect from that fee payment an assessment to 
recover the costs we incur in determining and paying representatives' 
fees. The Act provides that the assessment we collect will be the 
lesser of two amounts: a specified dollar limit; or the amount 
determined by multiplying the fee we are paying by the assessment 
percentage rate. (Sections 206(d), 206(e), and 1631(d)(2) of the Act, 
42 U.S.C. 406(d), 406(e), and 1383(d)(2)).
    The Act initially set the dollar limit at $75 in 2004 and provides 
that the limit will be adjusted annually based on changes in the cost-
of-living. (Sections 206(d)(2)(A) and 1631(d)(2)(C)(ii)(I) of the Act, 
42 U.S.C. 406(d)(2)(A) and 1383(d)(2)(C)(ii)(I)) The maximum dollar 
limit for the assessment currently is $86, as we announced in the 
Federal Register on October 25, 2011 (76 FR 66111).
    The Act requires us each year to set the assessment percentage rate 
at the lesser of 6.3 percent or the percentage rate necessary to 
achieve full recovery of the costs we incur to determine and pay 
representatives' fees. (Sections 206(d)(2)(B)(ii) and 
1631(d)(2)(C)(ii)(II) of the Act, 42 U.S.C. 406(d)(2)(B)(ii) and 
1383(d)(2)(C)(ii)(II)) Based on the best available data, we have 
determined that the current rate of 6.3 percent will continue for 2012. 
We will continue to review our costs for these services on a yearly 
basis.

    Dated: December 8, 2011.
Michael G. Gallagher,
Deputy Commissioner for Budget, Finance and Management.
[FR Doc. 2011-33099 Filed 12-23-11; 8:45 am]
BILLING CODE 4191-02-P

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