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Social Security Benefits Rounded Down

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Social Security Benefits Rounded Down
Tom Margenau discusses some Social Security history. Karin Hildebrand Lau/Shutterstock
Tom Margenau
Updated:
Q: I’ve heard that Social Security is cheating me and millions of other Americans out of Social Security benefits they are due because they round down to the nearest dollar when they are supposed to be rounding up. Is this true?
A: Well, it’s true ... and it’s false. It’s true when you say that benefits are rounded down, but it’s false when you say that they are supposed to be rounded up. Here’s the story.
Tom Margenau
Tom Margenau
Author
Tom Margenau worked for 32 years in a variety of positions for the Social Security Administration before retiring in 2005. He has served as the director of SSA’s public information office, the chief editor of more than 100 SSA publications, a deputy press officer and spokesman, and a speechwriter for the commissioner of Social Security. For 12 years, he also wrote Social Security columns for local newspapers, and recently published the book “Social Security: Simple and Smart.” If you have a Social Security question, contact him at [email protected]
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