A cash balance plan preserves an early ret. subsidized benefit. The CB plan allows for lump sums, prior plan did not. A person who retires early w/ subsidized annuity benefit wants a lump sum. Must it be required that the person get PVAB of early ret benefit (under 417) or could they pay a lump sum equal to PVAB of deferred to age 65 benefit (under 417)?

It would seem that they s/ get PVAB of immediate annuity.

Any thoughts?

What does the plan document say?

There is no requirement to include the subsidized portion of an early retirement benefit in a lump sum distribution provided the plan document so states.