20 CFR 404.2020 – Information considered in selecting a representative payee
In selecting a payee we try to select the person, agency, organization or institution that will best serve the interest of the beneficiary. In making our selection we consider—
Terms Used In 20 CFR 404.2020
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
(a) The relationship of the person to the beneficiary;
(b) The amount of interest that the person shows in the beneficiary;
(c) Any legal authority the person, agency, organization or institution has to act on behalf of the beneficiary;
(d) Whether the potential payee has custody of the beneficiary;
(e) Whether the potential payee is in a position to know of and look after the needs of the beneficiary;
(f) The potential payee’s criminal history; and
(g) Whether the beneficiary made an advance designation (see § 404.2018).