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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
- Payment of Partial Benefit
- Adjustment of Individual Benefit Rates Because of Family Maximum
- How Adjustment for Family Maximum is Figured
- Amount of Child's Insurance Benefit
- Disability Insurance Benefit Reduced for Age
- Entitlement to More Than One Social Security Benefit at the Same Time
- Spouse's Insurance Benefit
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