For the Lump Sum types of payment forms, the topic Minimum/Maximum Lump Sum refines the calculations of the lump sum. You may apply certain legal minimums to the lump sum calculation, specify a minimum amount below which the lump sum is not available, and/or specify a maximum amount above which the lump sum is not available.

Apply current law minimum lump sum, when checked, indicates that a minimum value should be applied to the lump sum calculation based on the specified alternative actuarial equivalence assumptions. Typically these assumptions will reference a variable interest rate table.

Alternative Actuarial equivalence is a multi-choice field that allows you to select an entry from the Actuarial Equivalence library. The button allows you to access the actuarial equivalence library to add a new entry or edit an existing one.

When the current law minimum lump sum is applied, you may choose to Reflect 417(e) early retirement adjustment. This option allows you, essentially, to compare a lump sum based on an immediate annuity with one based on a deferred to 65 annuity. Click the Params button to define the adjustment as discussed in the Reflect 417(e) Early Retirement Adjustment topic.

Apply PBGC-style minimum lump sum, when checked, indicates that a minimum value should be applied to the lump sum calculation based on the specified actuarial equivalence assumptions. Typically these will reference a PBGC-type interest rate table.

Actuarial equivalence is a multi-choice field that allows you to select an entry from the Actuarial Equivalence library. The button allows you to access the actuarial equivalence library to add a new entry or edit an existing one.

The If lump sum if greater than ________, use actuarial equivalence parameter specifies a maximum value (typically $25,000) over which an alternative actuarial equivalence calculation applies. Specify the maximum lump sum amount and use the multi-choice field to choose the alternative actuarial equivalence assumptions from the library. If the lump sum value using the specified base PBGC actuarial equivalence assumption exceeds the amount entered then the alternative PBGC actuarial equivalence assumptions are used with the final PBGC lump sum no less than the specified maximum value.

If checked, Apply minimum lump sum value indicates that the final lump sum value is not payable unless it is at least the specified Amount, ​or Plan Constant, or value in the selected ​Field. If Amount is selected, enter the minimum lump sum amount payable under this payment form into the box. If Field is selected, enter the scalar numeric data dictionary field* into the box. Selecting this option allows minimum lump sum values to vary among members.

If checked, Apply maximum lump sum value  indicates that the final lump sum value is not payable if it exceeds the specified Amount, ​or Plan Constant, or value in the selected Field.  If Amount is selected, enter the maximum lump sum amount payable under this payment form into the box. If Field is selected, enter the scalar numeric data dictionary field* into the box. Selecting this option allows maximum lump sum values to vary among members.

* If the minimum or maximum lump sum values change over time, consider storing that information in a numeric array field.  Then use a Data Default to select the appropriate value for the calculation to be stored in the referenced scalar data dictionary field.