Not affiliated with the US Social Security Administration

Rounding of Benefit Rates

Excerpted from "Social Security Handbook". See the up-to-date, official Social Security Handbook at ssa.gov.

738. Rounding of Benefit Rates

738.1 Are benefit rates rounded?

Yes. Benefit rates must be rounded.

738.2 How are benefit rates rounded?

Calculations that are not a multiple of 10 cents are rounded to the next lower multiple of 10 cents. For example, $100.18 is rounded down to $100.10.

The monthly amount payable is rounded to the next lower multiple of $1 if it is not already a multiple of $1. For example, $100.70 is rounded down to $100.

If you are entitled to Medicare, the Part B premium is deducted before rounding the monthly benefit payable to the lower multiple of $1.

Last Revised: Oct. 31, 2003


Sponsored Links

Recent Content

Seven Social Security Myths

1. Social Security will cover my income needs

2. It's better to take Social Security benefits early

3. I'll receive full benefits at 65

4. Once I start benefits, I can’t work anymore

5. I won't pay taxes on Social Security

6. Once I start Social Security, I have to continue receiving it

7. My divorce will reduce my benefits


Sponsored Links

Ads

Not affiliated with the US Social Security Administration