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Pension Resource

29 C.F.R. § 4044.52

Valuation of benefits.
CFR 1998 annual edition (revised as of 1998-07-01) · superseded Jul 1, 1999
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(a) General rule. Except as otherwise provided in paragraph (b) of this section (regarding the valuation of benefits payable as lump sums), the plan administrator shall value annuity benefits as of the valuation date by—
(1) Using the mortality assumptions prescribed by § 4044.53 and the interest assumptions prescribed by Table I of appendix B to this part;
(2) Using interpolation methods, where necessary, at least as accurate as linear interpolation;
(3) Using valuation formulas that accord with generally accepted actuarial principles and practices;
(4) Taking mortality into account during the deferral period of a deferred joint and survivor benefit only with respect to the participant (or other principal annuitant), if upon the death of the beneficiary the participant may elect an actuarially increased single life annuity or if a new beneficiary may succeed to the survivor portion of the benefit; and
(5) Adjusting the values to reflect the loading for expenses in accordance with appendix C to this part.
(b) Benefits payable as lump sums. For valuing benefits payable as lump sums (including the return of accumulated employee contributions upon death), and for determining whether the lump sum value of a benefit exceeds $3,500, the plan administrator shall value benefits in the same manner as benefits to be paid as annuities except that—
(1) The mortality assumptions prescribed in § 4044.54 and the interest assumptions set forth in Table II of appendix B to this part shall apply,
(2) There shall be no adjustment to reflect the loading for expenses, and
(3) Beneficiary mortality during the deferral period shall be disregarded as provided in paragraph (a)(4) of this section without regard to whether the participant may elect an actuarially increased single life annuity upon the death of the beneficiary or whether a new beneficiary may succeed to the survivor portion of the benefit.
29 C.F.R. § 4044.52 — Valuation of benefits. · CFR 1998 annual edition (revised as of 1998-07-01) · https://pensionresource.website/EAMain?content=EAMain.Law&id=cfr29-4044.52&asof=1995-01-04 · printed Oct 16, 2026
On this page
  • (a) General rule.
  • (b) Benefits payable as lump sums.
Implements
ERISA § 4044 (29 U.S.C. § 1344) Allocation of assets
Cited by (code & regs)
Guidance addressing this section

No documents are primarily about this section.

Also cited in 11 other documents
PBGC
Final Rules
  • 90 FR 39320 Aug 15, 2025 — Miscellaneous Corrections, Clarifications, and Improvements (d)
  • 89 FR 48291 Jun 6, 2024 — Valuation Assumptions and Methods (d)
  • 85 FR 55587 Sep 9, 2020 — Lump Sum Payment Assumptions
  • 85 FR 6046 Feb 4, 2020 — Miscellaneous Corrections, Clarifications, and Improvements (a)(d)
  • 82 FR 60800 Dec 22, 2017 — Missing Participants (d)
Proposed Rules
  • 88 FR 56563Proposed Aug 18, 2023 — Valuation Assumptions and Methods Comments due Oct 17, 2023 (d)
  • 87 FR 62316Proposed Oct 14, 2022 — Actuarial Assumptions for Determining an Employer's Withdrawal Liability Comments due Nov 14, 2022
  • 84 FR 51490Proposed Sep 30, 2019 — Lump Sum Payment Assumptions Comments due Nov 29, 2019
  • 84 FR 30666Proposed Jun 27, 2019 — Miscellaneous Corrections, Clarifications, and Improvements Comments due Aug 26, 2019 (a)(d)
  • 81 FR 64700Proposed Sep 20, 2016 — Missing Participants Comments due Nov 21, 2016 (d)
  • 76 FR 67105Proposed Oct 31, 2011 — Cash Balance Plans; Benefit Determinations and Plan Valuations for Statutory Hybrid Plans; Pension Protection Act of 2006 Comments due Dec 30, 2011 (e)(e)(4)

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Each row is a version of the text as published by the official source. Code dates are the edition/release point that first reflected the change; regulation dates are eCFR effective dates. The library checks the official sources automatically, so new versions appear here on their own; “run” opens the sync that recorded a version.

EffectiveThroughSourceAmended by
Jul 1, 1997Jun 30, 1999CFR 1998 annual edition (revised as of 1998-07-01) run 127View
Jul 1, 1999Jun 30, 2000CFR 1999 annual edition (revised as of 1999-07-01) run 12763 FR 38306, July 16, 1998View · Redline (sign in)
Jul 1, 2000Jun 30, 2006CFR 2005 annual edition (revised as of 2005-07-01) run 12765 FR 14753, Mar. 17, 2000View · Redline (sign in)
Jul 1, 2006Jun 5, 2024eCFR editorial change effective 2017-01-01 run 870 FR 72207, Dec. 2, 2005View · Redline (sign in)
Jun 6, 2024Jul 7, 2024eCFR amendment effective 2024-06-06 run 870 FR 72207, Dec. 2, 2005View · Redline (sign in)
Jul 8, 2024Aug 14, 2025eCFR amendment effective 2024-07-08 run 889 FR 48300, June 6, 2024View · Redline (sign in)
Aug 15, 2025Sep 14, 2025eCFR amendment effective 2025-08-15 run 889 FR 48300, June 6, 2024View · Redline (sign in)
Sep 15, 2025currenteCFR amendment effective 2025-09-15 run 290 FR 39328, Aug. 15, 2025View · Redline (sign in)
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