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Lump Sum When Normal Form Isn't Life and There's a Table of....
BenefitsLink Message BoardsLink to more items from this source
Dec. 29, 2021

"Plan has its own table to convert the normal form of '10 years certain + life' to other forms, including single life annuity. For IRC section 417 purposes, do I do the lump sum first by: [1] Convert 10cc to life via the plan factors, and then convert the life amount to lump at 417 rates, or [2] Convert 10cc to lump sum with 417e factors, but convert 10cc to life separately with plan factors (even though the lump sum value of that life annuity would be different)? I assume the plan's AE factors aren't going to override 417 minimums.

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