IRS Releases Mortality Table For 2016

 

Notice 2015-53  releases the new mortality table to be used for funding purposes starting in 2016. In addition, the Notice includes a modified version for use for Section 417(e) purposes.

 

Document Excerpt

 This notice provides updated static mortality tables to be used for defined benefit pension plans under § 430(h)(3)(A) of the Internal Revenue Code (Code) and § 303(h)(3)(A) of the Employee Retirement Income Security Act of 1974, Pub. L. No. 93-406, as amended (ERISA). These updated tables, which are being issued using the methodology in the existing final regulations under § 430(h)(3)(A), apply for purposes of calculating the funding target and other items for valuation dates occurring during calendar year 2016.

This 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 2016 calendar year.

BACKGROUND

 

 

Link

http://www.irs.gov/pub/irs-drop/n-15-53.pdf

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