29 CFR 4044.75 : Labor (§ 0.735-1 To Parts 4908-4999) — (Part 1927 To Parts 4908-4999) — Regulations Relating To Labor (Continued) (Part 1927 To Parts 4908-4999) — Pension Benefit Guaranty Corporation (§ 4000.1 To Parts 4908-4999) — Plan Terminations (§ 4041.1 To Appendix B To Part 4050) — Allocation Of Assets In Single-Employer Plans (§ 4044.1 To Appendix D To Part 4044) — Valuation Of Benefits And Assets (§ 4044.41 To Appendix D To Part 4044) — Non-Trusteed Plans (§ 4044.71 To § 4044.75) — Other lump sum benefits.

The value of a lump sum benefit which is not covered under § 4044.73 or § 4044.74 is equal to -

(a) The value under the irrevocable commitment, if an insurer provides the benefit; or

(b) The present value of the benefit as of the date of distribution, determined using reasonable actuarial assumptions, if the benefit is to be distributed other than by the purchase of the benefit from an insurer. The PBGC reserves the right to review the actuarial assumptions as to reasonableness and re-value the benefit if the actuarial assumptions are unreasonable.