Restricted Calculations Revisited

[LIBOR]

Just wondering what practitioners are doing with respect to the following for a participant who retires, elects a lump sum but is restricted:

(1) Reg. 1.401(a)(4)-5 sets the life annuity equivalent of the accrued as the max that the restricted participant can receive in a year - are practitioners communicating a payment schedule with the above max as an annual cap or is the communication just that "the restricted participant can receive payments under any schedule as long as the max isn't exceeded in a year"; if a schedule is communicated, how is it determined ?

and

(2) The participant who elects a lump sum & is restricted might not be restricted a year later(e.g the RPA rate changes and/or assets perform well); how are practitioners determining the lump sum value a year later after the participant has received payments but of course not exceeding the max allowed as noted above ?