§ 4044.56. XRA when a participant need not retire to receive a benefit.
148 words·~1 min read·
/us/cfr/t29/s§ 4044.56·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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 (Expected Retirement Ages for Individuals in the High Category) in § 4044.58 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. \[61 FR 34059, July 1, 1996, as amended at 89 FR 48306, June 6, 2024\]