IRS Updates Pension Static Mortality Tables

Static mortality tables used by defined benefit pension plan actuaries are now available for calendar year 2019.

The tables—which project life expectancy—are used to calculate funding targets for pension plans. They are also used to determine compliance with other defined benefit plan requirements under the tax code and the Employee Retirement Income Security Act. Retirement plan sponsors can apply the projection of mortality improvement by using the static tables or generational tables, the Internal Revenue Service said Dec. 14.

The IRS and Treasury Department issued a final rule Oct. 3 revising mortality tables to reflect longer life expectancy for plan ...