Mary Jones is about to retire. She has participated in a DBP and is considering whether to take a lump sum distribution instead of the annuity payments. Her company is telling her that they are using a 14 percent discount rate and mortality tables developed in 1972. What impact would these assumptions have on her lump sum? Would the PPA be helpful to her in this situation? Explain. What if Mary were suffering from incurable cancer and the employer knew about it? How would that affect her request for a lump sum instead of an annuity? Can the employer legally take this information into consideration? What if the employer included a COLA adjustment in his retirement annuity? Should that be included in the lump sum? In the case when a participant chooses a lump sum, must the spouse waive the joint survivor benefit?