Mike Enzi: “The capital preservation and loss protection rules are intended to provide long-term protection to employees, so the…”

“The capital preservation and loss protection rules are intended to provide long-term protection to employees, so the determination of whether the rules are satisfied is made at the time benefits commence but not beforehand. In the case of plans that index benefits after benefits begin, the determination is made by reference to the benefit in effect at the time benefits begin. lump sums from hybrid pension plans”