permissible range

(I)Except as provided in subclause (II), the term “permissible range” means a rate of interest which is not more than 5 percent above, and not more than 10 percent below, the weighted average of the rates of interest on 30-year Treasury securities during the 4-year period ending on the last day before the beginning of the plan year. (II)If the Secretary of the Treasury finds that the lowest rate of interest permissible under subclause (I) is unreasonably high, such Secretary may prescribe a lower rate of interest, except that such rate may not be less than 80 percent of the average rate determined under such subclause. (iii)Notwithstanding paragraph (3)(A), the interest rate used under the plan shall be— (I)determined without taking into account the experience of the plan and reasonable expectations, but (II)consistent with the assumptions which reflect the purchase rates which would be used by insurance companies to satisfy the liabilities under the plan.

Source

29 USC § 1084(c)(6)(E)(ii)(I)


Scoping language

For purposes of this subparagraph
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