Income Tax Regulations — 8503
nt benefits that would otherwise be payable under the provision to the member, and (v) the present value of all benefits provided under the provision with respect to the member does not exceed the present value of the benefits that would be provided if (A) the amount of the member’s lifetime retirement benefits were determined without any reduction dependent on the benefits payable after the death of the member or on circumstances that are relevant in determining such death benefits, (B) the maximum amount of retirement benefits that are permissible under paragraph (d) were payable to the member’s spouse or common-law partner or former spouse or common-law partner after the death of the member, and (C) those present values were determined as of (I) except where subclause (II) applies, the particular time at which retirement benefits under the provision commence to be paid to the member, and (II) where the additional death benefits become provided after the particular time, the time at which the additional death benefits become provided; Additional Bridging Benefits (l) bridging benefits in excess of bridging benefits that are permissible under paragraph (b) (referred to in this paragraph as “additional bridging benefits”) provided to a member where (i) the additional bridging benefits would be permissible under paragraph (b) if (A) the formula in subparagraph (b)(ii) were replaced by the formula “A/12 x C”, and (B) the description of A in subparagraph (b)(ii) were read as follows: “A is 40% of the Year’s Maximum Pensionable Earnings for the year in which the bridging benefits commence to be paid to the member,” (ii) the additional bridging benefits are provided in lieu of all or a proportion of the benefits that would otherwise be payable under the provision with respect to the member, and (iii) the present value (at the time retirement benefits under the provision commence to be paid to the member) of all benefits provided under the provision with respect to the member does not exceed the present value (at that time) of the benefits that would be so provided if the additional bridging benefits were not provided; Survivor Bridging Benefits (l.1) retirement benefits (in this paragraph referred to as “survivor bridging benefits”) provided to a beneficiary of a member after the death of the member where (i) the beneficiary is a spouse or common-law partner or former spouse or common-law partner of the member, (ii) the survivor bridging benefits are payable at the election of the beneficiary, and (iii) the survivor bridging benefits would be in accordance with paragraph (l) if the beneficiary were a member of the plan; Commutation of Benefits (m) the payment with respect to a member of a single amount in full or partial satisfaction of the member’s entitlement to other benefits under the provision, where the single amount does not exceed the total of (i) the present value (at the particular time determined in accordance with subsection (2.1)) of (A) the other benefits that, as a consequence of the payment, cease to be provided, and (B) benefits, other than benefits referred to in clause (A), that it is reasonable to consider would cease to be provided as a consequence of the payment if (I) where retirement benefits have not commenced to be paid under the provision to the member at the particular time, the plan provided for the retirement benefits that accrued to the member under the provision to be adjusted to reflect the increase in a general measure of wages and salaries from the particular time to the day on which the benefits commence to be paid, and (II) the plan provided for periodic cost-of-living adjustments to be made to the retirement benefits payable under the provision to the member to reflect increases in the Consumer Price Index after the retirement benefits commence to be paid (other than increases before the particular time), and (ii) interest (computed at a reasonable rate) from the particular time to the time the