The Commissioner of the Social Security Administration, Michael J. Astrue (pictured here) is "increasing the maximum dollar amount limit for fee agreements ... to $6,000." The increase will be effective June 22, 2009.
This is the first time that the maximum fee has been increased in about 8 years. At that time, it was raised to $5,300. Legislation is currently pending in the House of Representatives to establish cost of living adjustments annually to the fee cap.
My current and future clients need not worry about this change. I will not be trying to change or amend existing fee agreements. Some of the newer clients have fee agreements that already spell out that the maximum is $5,300 "including any increases by statute or regulation." All future agreements will contain that language.
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