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DEPARTMENT FOR AGING AND REHABILITATIVE SERVICES AUXILIARY GRANT PROGRAM NON-SSI RESOURCE ELIGIBILITY 11/18 CHAPTER E PAGE 107 Unavailable funds are neither income nor a resource. If the funds are distributed in periodic payments, the payments are income in the month received. If the funds can be distributed as a lumps sum, the value of the fund is a resource. 57.1.1. Periodic Payments Periodic retirement benefits are payments made to an individual at some regular interval (e.g., monthly). If the individual receives periodic payments, the payments are evaluated as unearned income in the month received. The balance of the retirement funds is not a resource. If the individual has a choice between periodic benefits and a lump sum, he/she must choose the periodic benefits. 57.1.1.1. Requirement To Apply If an individual is eligible for periodic retirement benefits, he/she must apply for those benefits. If he/she fails to apply, he/she does not meet the non-financial requirement to apply for other benefits and will be ineligible for AG. (Application for Other Benefits Chapter C - 10) Note: The individual does not have to pursue withdrawal if the funds are only available in a lump sum payment. 57.1.2. Lump Sum Payments A lump sum payment is a payment that is issued once and includes the full amount of money that an individual can withdraw from the fund. A retirement fund owned by an eligible individual is a resource if periodic payments have been denied and he/she has the option of withdrawing a lump sum. Withdrawal of the lump sum is not income but is a conversion of a resource. 57.2. Termination of Employment A retirement fund is not a resource if an individual must terminate employment in order to obtain any payment. 57.3. Fund Not Immediately Available If the retirement funds are unavailable they are not a resource. They become a resource and are counted in the month following the month the funds become available for withdrawal.