The IRS is revising the mortality tables pension plans use to determine minimum funding targets and annual payouts.
A proposed rule (RIN 1545-BQ14) the agency released Wednesday would modify tables projecting participant life expectancy based on age, gender, and other factors to reflect recent population trends. The new tables would take effect for plan years beginning in 2023, the Internal Revenue Service said.
The rule is scheduled for publication Thursday in the Federal Register. Public comments are due June 9, and the agency will host a public hearing on the proposed changes on June 28.
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