"The updated regulations make it easier for a plan to change the lookback month or stability period as needed.... If a plan has employee contributions, an amendment will likely be needed to satisfy the requirement that no mortality be taken into account for the employee-derived portion of the accrued benefit.... If a plan has a Social Security level income option that does not already satisfy the minimum present value requirements, then the plan will need to be amended so that either the entire option satisfies the present value requirements or the plan provisions satisfy the implicit bifurcation rule."

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