Andrew... This also works... and, it's set based.... just substitute a column name for @Number in the formula...

-- Math.Round(3.454,2) -> 3.45

-- Math.Round(3.455,2) -> 3.46

-- Math.Round(3.445,2) -> 3.44

-- Math.Round(3.456,2) -> 3.46

DECLARE @Number MONEY

DECLARE @precision INT

    SET @precision = 2

   SET @Number = 3.454

SELECT ROUND(@Number,@Precision,CAST(@Number*POWER(10,@Precision) AS INT)%2)

   SET @Number = 3.455

SELECT ROUND(@Number,@Precision,CAST(@Number*POWER(10,@Precision) AS INT)%2)

   SET @Number = 3.445

SELECT ROUND(@Number,@Precision,CAST(@Number*POWER(10,@Precision) AS INT)%2)

   SET @Number = 3.456

SELECT ROUND(@Number,@Precision,CAST(@Number*POWER(10,@Precision) AS INT)%2)