BASIC (11-02)

# SI 02009.005 Rounding of Payments

## PROCEDURE

Rounding of payments only involves the last step of any SSI payment computation. If the payment amount would include a fraction of a cent, raise the payment amount to the next higher cent (note SI 02001.010A.1.).

Example 1:

Individual

 \$794.00 Quarterly FBR \$400.00 Countable income \$394.10 Quarterly payment amount \$131.366 Monthly payment amount (rounded to \$131.37. the next higher cent).

Example: 2:

Couple

 \$1191.00 Quarterly FBR \$ 700.00 Countable income \$ 491.00 Quarterly payment amount \$163.666 Monthly payment amount to the couple \$ 81.833 Monthly payment amount to each member (rounded to \$81.84. the next higher cent.)

Note: Do not “round” income. The determination of countable income is an interim step in the computations of payments to which “rounding” does not apply. Express income within a computation to three digits to the right of the decimal point.

Income can only be transmitted to the Sup­plemental Security Record (SSR) monthly and in dollars and cents. To transmit an income amount that has a fractional cent, drop the fractional cent. Do not 'round" the amount to the next higher cent. For example, an SSI recipient expects to have net earn­ings of \$1,000 from self-employment in 1982. This is \$250 per quarter and \$83.333 per month. Transmit a continu­ing monthly earned income amount of \$83.33. The SSI recipient also expects to receive \$500 in cash support at the end of each quarter. This is \$166.666 per month. Transmit a continuing unearned income amount of \$166.66.)

 To Link to this section - Use this URL: http://policy.ssa.gov/poms.nsf/lnx/0502009005 SI 02009.005 - Rounding of Payments - 11/27/2002 Batch run: 01/27/2009 Rev:11/27/2002