On the recordNovember 16, 2005
the calculation of lump sum distributions has been hotly debated. Some have been worried that the bill would shortchange participants in their lump-sum distributions. That is not the case. In fact, this bill has been very careful to avoid the problems that occurred after the enactment of the pension reforms on the GATT in 1994. Under S. 1783, it is intended that plans may use different assumptions--that is, interest rates and or mortality tables--to determine lump sum distribution amounts so long as the plan provides that a participant's lump sum distribution amount is no less than the present value determined in accordance with the requirements of the bill.
Source
govinfo.gov
