CFR > Title 29 - Labor > SUBTITLE B—Regulations Relating to Labor > CHAPTER XL—PENSION BENEFIT GUARANTY CORPORATION (parts 4000 to 4907) > SUBCHAPTER E—PLAN TERMINATIONS (parts 4041 to 4050) > PART 4044—ALLOCATION OF ASSETS IN SINGLE-EMPLOYER PLANS > SUBPART B—Valuation of Benefits and Assets (§4044.41 to §4044.75) > 4044.75—Other lump sum benefits.

4044.75—Other lump sum benefits.

The value of a lump sum benefit which is not covered under § 4044.73 or § 4044.74 is equal to—
(a) The value under the qualifying bid, if an insurer provides the benefit; or
(b) The present value of the benefit as of the date of distribution, determined using reasonable actuarial assumptions, if the benefit is to be distributed other than by the purchase of the benefit from an insurer. The PBGC reserves the right to review the actuarial assumptions as to reasonableness and re-value the benefit if the actuarial assumptions are unreasonable.
(See Note at beginning of part 4044.)

Code of Federal Regulations

Effective Date Note: At 76 FR 34606, June 14, 2011, § 4044.75 was amended by removing “qualifying bid” and adding in its place “irrevocable commitment” in paragraph (a) and by removing “(See Note at beginning of part 4044.)” at the end of the section, effective July 14, 2011.