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Code of Federal Regulations Title 20. Employees' Benefits § 20.408.224 How do we determine the monthly amount of your other benefit income?

Current as of October 02, 2022 | Updated by FindLaw Staff

If your other benefit income is paid in other than monthly amounts, we will compute the equivalent monthly amount as follows:

(a) Weekly payments. We multiply the amount of the weekly payment by 52 and divide by 12 to determine the equivalent monthly payment amount.

(b) Bi-weekly payments. We multiply the amount of the bi-weekly payment by 26 and divide by 12 to determine the equivalent monthly payment amount.

(c) Quarterly payments. We multiply the amount of the quarterly payment by 4 and divide by 12 to determine the equivalent monthly payment amount.

(d) Semi-annual payments. We multiply the amount of the semi-annual payment by 2 and divide by 12 to determine the equivalent monthly payment amount.

(e) Lump sum payment. If the paying agency will not prorate the lump sum to determine the monthly amount, we will compute the amount as follows:

(1) If the payment is for a specific period. We divide the lump sum by the number of months in the period for which the payment was made to determine the equivalent monthly payment amount.

(2) If the payment is for a lifetime or for an unspecified period. We divide the lump sum amount by your life expectancy in months at the time the lump sum is paid.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 20. Employees' Benefits § 20.408.224 How do we determine the monthly amount of your other benefit income? - last updated October 02, 2022 | https://codes.findlaw.com/cfr/title-20-employees-benefits/cfr-sect-20-408-224/

Read this complete Code of Federal Regulations Title 20. Employees' Benefits § 20.408.224 How do we determine the monthly amount of your other benefit income? on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

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