Suppose a small non-PBGC DB plan terminates 12/31/2007. No participant is close to the 415 limit. The plan document allows for lump sum distributions based on the greater of the plan rate or 417(e) rate. The 417(e) rate per the document would be from November 2007.

Suppose benefits are being distributed in two weeks based on an ERISA 4044 allocation.

Our understanding is that since the termination took place prior to the effective date of PPA'06 segment rates, we would not use them and instead follow our plan document.

Does anyone disagree with this?