The following is an exhibit of questions of 3.D. and 4. of the SSA-623-OCR-SM (09/2001).

The following is an exhibit of questions 3.C. and 4. of the SSA-6230-OCR-SM (09/2001)

NOTE: The payee will show any conserved funds amount in Question 3D on the SSA-623-OCR-SM or Question 3C on the SSA-6230-OCR-SM.

Decision Factors: The FO should contact the payee to ensure adequate funds are being spent for the beneficiary's well-being in the following scenarios:

• •

  Conserved funds reported is less than 20% of the Total Accountable Amount (TAA) and the TAA is greater than $25,000; or

• •

  Conserved funds reported is less than 20% of previously recorded conserved funds and previously recorded conserved funds is greater than $5,000; or

• •

  For Title II cases, conserved funds are greater than $10,000.

Compute 25% of the Total Accountable Amount (if there is only one beneficiary).

Decision Factors: Apply this instruction only if the reported conserved funds (CF) is $5000 or more for any beneficiary and you are contacting the payee to resolve some other issue.

REMINDER: If the payee reported for more than one child on an SSA-6230-OCR-SM, divide the benefits paid amount shown on line 1 under item 3 by the number of children displayed on the report. Add each child's portion of that amount to the CF amount displayed for that child in the top portion of the form.

Is the current amount of conserved funds greater than 25% of the conserved funds plus each child's portion of the benefits paid amount?

• •

  If yes, Approve the amount of conserved funds.

• •

  If no, Contact the payee for an explanation.

EXAMPLE: The payee reported savings of $4000 for each of 3 children shown in Question 3C on a SSA-6230-OCR-SM. The benefits paid amount shown in line 1 under Question 3 is $10,500. The CF amount displayed in the top portion of the form for C1 is $2000; CF for C2 is $6000; CF for C3 is $8000.

Determine each child's portion of the benefits paid amount:

$10,500 divided by 3 = $3500.

CF for C1 is less than $5000. Stop for C1.

For C2, CF plus benefits paid amount = $9,500; 25% = $2375.

For C3, the sum is $11,500; 25% = $2875.

Since the payee reported current savings greater than 25% of the CF plus the benefits paid amount for both C2 and C3, no further development action is necessary.

Decision Factors: The FO should contact the payee to ensure adequate funds are being spent for the beneficiary's well-being in the following scenarios:

• •

  Conserved funds reported is less than 20% of the Total Accountable Amount (TAA) and the TAA is greater than $25,000; or

• •

  Conserved funds reported is less than 20% of previously recorded conserved funds and previously recorded conserved funds is greater than $5,000.

Decision Factor: A large amount of conserved SSI payments may indicate that the payee is not spending enough to meet the beneficiary's needs.

Develop according to GN 00603.001B.2. if the payee shows current conserved funds more than three times the Federal Benefit Rate (but less than $2,000) and the payee must be contacted for another reason.

IMPORTANT: SSI eligibility is questionable if a recipient's resources equal or exceed $2000. The FO must develop continued eligibility when a payee for title XVI (and concurrent) benefits indicates conserved funds of $2,000 or more.

Approve responses that indicate the conserved funds are properly titled (see GN 00605.068H) and held, in any of these types of investment:

1. a. 

   Individual savings and/or checking account.

2. b. 

   U.S. savings bonds, Treasury bills, certificates of deposit (CD's) or other federally insured plans (such as a Direct Express card account, to name one).

3. c. 

   Collective savings and/or checking account and the institution, agency, or individual payee (e.g., a lawyer whose law firm is not the payee but the individual is) is listed on the collective account precedent file in RPS (see MSOM RPS 008.012 and MSOM RPS 008.016). For individual payees, the type of payee will usually be coded as “OTH” (Other) on the MBR/SSR/RPS. Refer to GN 00603.020 for the policy governing the establishment of collective savings/checking accounts to hold benefits belonging to more than one beneficiary.

Develop according to the “prudent person rule” described in GN 00603.040 if the payee indicates that conserved funds are held in any manner other than shown in GN 00605.068G.1.

EXAMPLE: Questionable investments include the stock market and mutual funds.

Approve responses that indicate that an approved investment (see GN 00605.068G.1.) bears the following types of titles:

1. a. 

   Individual savings and/or checking accounts:

   • •

     (Beneficiary Name) by (Payee Name)

   • •

     (Payee Name) for (Beneficiary Name)

     EXCEPTION for Spouses and Parents: A checking account established by a spouse, or (natural, adoptive or step) parent with custody of a minor child(ren), does not have to show beneficiary ownership. However, an individual savings account must show the child as the owner of the account, as described in GN 00603.010B.1.

2. b. 

   U.S. savings bonds registered as specified in GN 00603.030B.

3. c. 

   Collective savings and/or checking account title described in GN 00603.020:

   • •

     (Payee Name) representative payee for Social Security Beneficiaries

4. d. 

   Other titles as shown in GN 00603.010 and GN 00603.030.

If the payee indicates an account or investment title other than those shown in GN 00605.068.H.1., the FO should take the following steps: