Current law calls for an inflation adjustment every five years beginning at the end of this year. To my knowledge, there's no plan to increase the current $200 before then, and inflation has certainly not been great enough to warrant a $500 increase. As Ken suggests, challenge your source for that rumor to back it up with a credible source.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8