RATE TAPES
Bobby is coming onto the record for the first time in 03/2022 and will be entitled to disability benefits. He attains FRA in 05/2022.
N/A
As a DIB beneficiary with no prior entitlement to RIB benefits, Bobby will receive 100% of the PIA therefore there is no rate tape to run.
The max percentage of the PIA a beneficiary is eligible to receive prior to any deductions/reductions
What is the OB?
(Original Benefit)
MBA - SMI, drop dimes
What is the MBP?
When we began rounding dimes down
What is 06/1982?
Curtis is entitled to retirement benefits on his own record effective 07/2017 and also to husbands benefits on his wife's record eff 08/2016.
What is the B/A rate tape in EXCEL?
(Can also be done via ICFWiz and RatesTool)
The rate payable on the larger, auxiliary record of a dually entitled beneficiary
What is the LEMBA?
(Larger Excess Monthly Benefit Amount)
FMAX - PIA
What is the AMAX?
(adjusted MAX)
Robert, who is entitled to RIB benefits, was born on June 16, 1955 and attains FRA at this age.
What is 66 and 2 months?
John, Jane and Judy are all entitled to student benefits effective 09/2019. Jane's benefits terminate 4 months later in 01/2020. The NH is still alive.
What is LIFE RATES?
(found in ICF and EXCEL)
The actual amount payable after any deductions and rounding
What is the MBP?
(Monthly Benefit Payable)
MBA - SMI, drop dimes, + SMI
What is the MBC?
(Monthly Benefit Credited)
What is 1956?
Sally is entitled to spouse benefits effective 05/2012. Her husband dies in 06/2013 and her entitlement converts to widow's benefits.
What is the Initial A or B rate tape in ICF or the LIFE RATES in EXCEL for the spouse benefit and the SURVIVOR rate tape in ICF or the WIDOW RATE TAPE in EXCEL for the widow benefit?
Note: Can use "B then D" rate tape in RatesTool to run both life and survivor rates simultaneously.
Represented by the letter found after the FMAX in the PIA HIS data of an MBR
What is TOM?
(Type of Max)
FMAX / # OF AUXILIARIES
What is the AB for a death case?
(Adjusted Benefit)
Delilah was born on November 1st, 1951 and attained FRA in this month as a spouse.
What is 10/2017?
B6 is entitled to divorced spouse's benefits eff 04/2014. C1 and C2 also apply for benefits eff 04/2014 but are denied.
What is Initial A/B Single Entitlement in ICF or LIFE rates in EXCEL?
(Can also be done via automation tools: B rate in RatesTool or Initial A B Max Not Involved in ICFWiz)
A beneficiary's maximum rate after reduction for age and consideration of the FMAX
What is the MBA?
(Monthly Benefit Amount)
OB X (192 - ARM) / 240
June was born on July 1st, 1956 and became entitled to retirement benefits in July 2020 with this many reduction factors.
What is 27?