Compliance September 6, 2016

IRS Updates DB Plan Mortality Tables for 2017

The notice also includes a modified unisex version of the mortality tables for use in determining minimum present value for distributions.
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The Internal Revenue Service (IRS) issued Notice 2016-50 providing updated static mortality tables to be used for defined benefit (DB) pension plans under § 430(h)(3)(A) of the Internal Revenue Code and § 303(h)(3)(A) of the Employee Retirement Income Security Act (ERISA).

These updated tables apply for purposes of calculating the funding target and other items for valuation dates occurring during calendar year 2017.

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The notice also includes a modified unisex version of the mortality tables for use in determining minimum present value under § 417(e)(3) of the Code and § 205(g)(3) of ERISA for distributions with annuity starting dates that occur during stability periods beginning in the 2017 calendar year.

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