; (2) certified and paid monthly in such manner as the Commissioner of Social Security (referred to in this section as the Commissioner ) considers appropriate; and (3) equal to the monthly benefit amount determined under subsection (b). (b) (1) Subject to paragraph (4), the monthly benefit amount determined under this subsection for any calendar year shall be a dollar amount equal to 1/12 th of 2 percent of the national average wage index for the year (as defined in section 209(k)(1)). (2) If the monthly benefit amount determined under paragraph (1) is not a whole dollar, such amount shall be rounded down to the next lower whole dollar. (3) The Commissioner shall determine the monthly benefit amount under this subsection for each calendar year not later than October 1 of the preceding calendar year, based on the most recent data that is available. (4) If the monthly benefit amount determined for a calendar year under paragraph (1) is less than the monthly benefit amount determined for any previous calendar year, the highest monthly benefit amount determined for a previous year shall be the monthly benefit amount for the calendar year involved. (5) For purposes of a monthly benefit amount payable to an eligible individual pursuant to this section, such amount shall be payable for each month during the 12-month period from the month of December of the applicable calendar year under such subsection through the month of November of the subsequent calendar year. (c) (1) For purposes of this section, the term eligible individual means any of the following: (A) An individual who— (i) is entitled to a monthly benefit under subsections (a) through (h) of section 202 or section 223(a); and (ii) attains 82 years of age or 240 benefit months (as defined in paragraph (3)) on the basis of the wages and self-employment income of 1 individual, whichever is earlier. (B) An individual who— (i) is eligible for supplemental security income benefits under title XVI