Enrolled Actuary Exam Prep

A plan pays mandatory lump sums less than or equal to $1,000. Elective lump sums are allowed in any amount in excess of $1,000. The plan terminated in a standard termination. Data for missing participant Smith, not in pay status, as of deemed distribution date: Lump sum based on plan provisions $5,600 Present value based on PBGC lump sum assumptions 5,900 Present value based on PBGC missing participant annuity assumptions 5,500 Values do not include any expense loads.In what range is the Designated Benefit for Smith?