Current through May 31, 2024
Section 4044.56 - XRA when a participant need not retire to receive a benefit(a)Applicability. Except as provided in § 4044.57 , the plan administrator shall determine the XRA under this section when plan provisions or established plan practice do not require a participant to retire from his or her job to begin receiving his or her early retirement benefit.(b)Data needed. The plan administrator shall determine for each participant- (1) The participant's URA; and(2) The participant's earliest retirement age at valuation date.(c)Procedure. Participants in this case are always assigned to the high retirement rate category and therefore the plan administrator shall use Table II-C of appendix D to determine the XRA. The plan administrator shall determine the XRA from Table II-C by using the participant's URA and earliest retirement age at termination date.