415 limit v accd benefit

[Gary]

A valuation software program determined that an employee's

AB as of 1/1/2011 was 1,200 per month (as computed from a prior year and preserved)

415 100% comp limit computed to be 1,100 (decreased because after two years of pay in the 3rd year pay was $0 and avg pay for 415 decreased).

The program proceeded to determne that the AB was preserved at 1,200 but the 415 lump sum was the PV of the benefit of 1,100.

That is, not the PV of 1,200.

Does concensus agree with above? Think that AB s/b limited to 1,100? Think lump sum s/b based on PV of 1,200? Or something else?

One more piece of info:

The employee received $0 comp for 2010 and worked less than 1000 hours and did not receive a year of svc for vesting or accrual purposes. The 415 100% comp limit did not add a year of service either, but just counted the $0 pay in the 3 yr avg.

thanks