1. LawStack
  2. Title 20 - Employees' Benefits
  3. Chapter III - SOCIAL SECURITY ADMINISTRATION
  4. Part 404 - FEDERAL OLD-AGE, SURVIVORS AND DISABILITY INSURANCE (1950- )
  5. Subpart M - Coverage of Employees of State and Local Governments
  6. Topic - Figuring the Amount of the State's Contributions—for Wages Paid Prior to 1987
  7. 20 CFR § 404.1263
20 CFR § 404.1263
When fractional part of a cent may be disregarded—for wages paid prior to 1987
February 18, 2021
CFR

In paying contributions to a Federal Reserve bank or branch, a State may disregard a fractional part of a cent unless it amounts to one-half cent or more, in which case it shall be increased to one cent. Fractional parts of a cent shall be used in computing the total of contributions.

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§ 404.1262 Manner of payment of contributions by State—for wages paid prior to 1987

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