20 C.F.R. Subpart E—Amount and Payment of Benefits
Title 20 - Employees' Benefits
Authority: Secs. 702(a)(5), 801, 805, and 810 of the Social Security Act (42 U.S.C. 902(a)(5), 1001, 1005, and 1010); Sec. 251, Pub. L. 106–169, 113 Stat. 1844.
This subpart explains how we compute the amount of your monthly SVB payment, including how we reduce your payments if you receive other benefit income. It also explains how we pay benefits under the SVB program. (a) Maximum SVB payment. The maximum monthly SVB payment is equal to 75% of the FBR for an individual under title XVI of the Act. See §416.410 of this chapter. (b) Cost-of-living adjustments in the FBR. The maximum SVB amount will increase whenever there is a cost-of-living increase in the SSI FBR under the provisions of §416.405 of this chapter. The basic SVB amount following such an increase is equal to 75 percent of the increased FBR. (c) When we will reduce the amount of your basic benefit. We will reduce your basic benefit by the amount of the other benefit income you receive in that month, as explained in §408.510. (a) Amount of the reduction. If you receive other benefit income as defined in §408.220, we will reduce your SVB payment by the amount of the other benefit income you receive in that month. The reduction is on a dollar-for-dollar and cents-for-cents basis. We do not round SVB payment amounts except as described in paragraph (b) of this section. (b) Minimum benefit amount. If the reduction described in paragraph (a) of this section results in a benefit amount that is greater than zero but less than $1.00, we will pay you a benefit of $1.00 for that month. SVB payments are made on the first day of each month and represent payment for that month. If the first day of the month falls on a Saturday, Sunday, or Federal legal holiday, payment will be made on the first day preceding such day that is not a Saturday, Sunday, or Federal legal holiday.
Title 20: Employees' Benefits
PART 408—SPECIAL BENEFITS FOR CERTAIN WORLD WAR II VETERANS
Subpart E—Amount and Payment of Benefits
§ 408.501 What is this subpart about?
§ 408.505 How do we determine the amount of your SVB payment?
§ 408.510 How do we reduce your SVB when you receive other benefit income?
§ 408.515 When do we make SVB payments?
