Can a church plan pay lump sum based on its actuarial assumptions and not use GATT Rate as a minimum?
Non-electing church plans are not subject to IRC Section 417.
.... subject to the terms of the plan itself.
QUOTE (IRISH79 @ Jan 23 2007, 12:24 PM) 
Can a church plan pay lump sum based on its actuarial assumptions and not use GATT Rate as a minimum?
Church plans are also not subject to the anti-cutback rule in Code section 411(d) which also relates to your question. But, pax is right: if the terms of the plan call for the GATT rate to be used, then failure to use that rate could result in a contract claim by disadvantaged participants that their "contract" with the employer (the terms of the retirement plan) had been breached. That failure would also be a failure to follow the terms of the plan document.
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