Federal Register / Vol. 88, No. 202 / Friday, October 20, 2023 / Rules and Regulations 72357 

1Section 302 of the Employee Retirement Income 

Security Act of 1974, Public Law 93–406, 88 Stat. 

829 (1974), as amended (ERISA), sets forth funding 

rules that are parallel to those in section 412 of the 

Code, and section 303 of ERISA sets forth 

additional funding rules for defined benefit plans 

(other than multiemployer plans) that are parallel 

to those in section 430 of the Code. Pursuant to 

section 101 of Reorganization Plan No. 4 of 1978, 

5 U.S.C. App., as amended, the Secretary of the 

Treasury has interpretive jurisdiction over the 

subject matter addressed in these regulations for 

purposes of ERISA, as well as the Code. Thus, these 

Treasury regulations issued under section 430 of 

the Code also apply for purposes of section 303 of 

ERISA. Similarly, Treasury regulations under 

sections 431 and 433 apply for purposes of sections 

304 and 306 of ERISA. 

Paragraph 6005 Class E Airspace Areas 

Extending Upward From 700 Feet or More 

Above the Surface of the Earth. 

* * * * * 

ANM WY E5 Gillette, WY [Amended] 

Northeast Wyoming Regional Airport, WY 

(Lat. 44°20′56′′ N, long. 105°32′22′′ W) 

That airspace extending upward from 700 

feet above the surface within a 5-mile radius 

of the airport, within 4 miles each side of the 

170° bearing extending from the 5-mile 

radius to 14 miles south of the airport, and 

within 4 miles each side of the 350° bearing 

extending from the 5-mile radius to 11 miles 

north of the airport. 

* * * * * 

Issued in Des Moines, Washington, on 

October 13, 2023. 

B.G. Chew, 

Group Manager, Operations Support Group, 

Western Service Center. 

[FR Doc. 2023–23123 Filed 10–19–23; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[TD 9979] 

RIN 1545–BQ81 

Additional Guidance on Low-Income 

Communities Bonus Credit Program 

Correction 

In Rule Document 2023–17078, 

appearing on pages 55506 to 55548 in 

the issue of Tuesday, August 15, 2023, 

make the following correction: 

PART 1 [Corrected] 

■ On page 55540, in the second column, 

beginning on line 40, the Authority 

citation is corrected to read as forth 

below: 

Authority: 26 U.S.C. 7805 unless otherwise 

noted. 

* * * * * 

Section 1.48(e)–1 issued under 26 U.S.C. 

48 

* * * * * 

[FR Doc. C2–2023–17078 Filed 10–19–23; 8:45 am] 

BILLING CODE 0099–10–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[TD 9983] 

RIN 1545–BQ14 

Mortality Tables for Determining 

Present Value Under Defined Benefit 

Pension Plans 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Final regulations. 

SUMMARY: This document sets forth final 

regulations prescribing mortality tables 

to be used for most defined benefit 

pension plans. The tables specify the 

probability of survival year-by-year for 

an individual based on age, gender, and 

other factors. The tables are used 

(together with other actuarial 

assumptions) to calculate the present 

value of a stream of expected future 

benefit payments for purposes of 

determining the minimum funding 

requirements for the plan. These 

mortality tables are also relevant for 

determining the minimum required 

amount of a lump-sum distribution from 

such a plan. These regulations affect 

participants in, beneficiaries of, 

employers maintaining, and 

administrators of certain defined benefit 

pension plans. 

DATES: 

Effective date: These regulations are 

effective October 20, 2023. 

Applicability date: These regulations 

apply to valuation dates occurring on or 

after January 1, 2024. 

Incorporation by reference: The 

incorporation by reference of certain 

publications listed in the rule is 

approved by the Director of the Federal 

Register as of October 20, 2023. 

FOR FURTHER INFORMATION CONTACT: 

Concerning the regulations, Arslan 

Malik or Linda Marshall at (202) 317– 

6700; concerning the construction of the 

base mortality tables and the static 

mortality tables for 2024, Christopher 

Denning at (202) 317–5755 (not toll 

free). 

SUPPLEMENTARY INFORMATION: 

Background 

Section 412 of the Internal Revenue 

Code (Code) prescribes minimum 

funding requirements for defined 

benefit pension plans, and section 430 

specifies the minimum funding 

requirements that apply generally to 

defined benefit plans that are not 

multiemployer plans.1 Section 430(a) 

defines the minimum required 

contribution for a plan by reference to 

the plan’s funding target for the plan 

year. Under section 430(d)(1), a plan’s 

funding target for a plan year generally 

is the present value of all benefits 

accrued or earned under the plan as of 

the first day of that plan year. 

Section 430(h)(3) provides rules 

regarding the mortality tables to be used 

under section 430. Under section 

430(h)(3)(A), except as provided in 

section 430(h)(3)(C) or (D), the Secretary 

is to prescribe by regulation mortality 

tables to be used in determining any 

present value or making any 

computation under section 430. Those 

mortality tables are to be based on the 

actual mortality experience of pension 

plan participants and projected trends 

in that experience. In prescribing those 

mortality tables, the Secretary is 

required to take into account results of 

available independent studies of 

mortality of individuals covered by 

pension plans. Under section 

430(h)(3)(B), the Secretary is required to 

revise any mortality table in effect under 

section 430(h)(3)(A) at least every 10 

years to reflect actual mortality 

experience of pension plan participants 

and projected trends in that experience. 

Under section 430(h)(3)(C), a plan 

sponsor may request the Secretary’s 

approval to use plan-specific substitute 

mortality tables that meet requirements 

specified in the statute rather than the 

generally applicable mortality tables. If 

approved, the substitute mortality tables 

are used to determine present values 

and make computations under section 

430 during the period of consecutive 

plan years (not to exceed 10) specified 

in the request. 

Section 430(h)(3)(D) provides for the 

use of separate mortality tables with 

respect to certain individuals who are 

entitled to benefits on account of 

disability. These separate mortality 

tables are permitted to be used with 

respect to disabled individuals in lieu of 

the generally applicable mortality tables 


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2Mortality tables that were permitted to be used 

for disabled participants under section 

412(l)(7)(C)(iii)(I) as in effect before 2008 were 

provided in Rev. Rul. 96–7, 96–3 IRB 12. Notice 

2008–29, 2008–1 CB 637, adopted those tables for 

use under section 430(h)(3)(D). 

3Static mortality tables were published in Notice 

2017–60, 2017–43 IRB 365, Notice 2018–02, 2018– 

2 IRB 281, Notice 2019–26, 2019–15 IRB 943, 

Notice 2019–67, 2019–52 IRB 1510, Notice 2020– 

85, 2020–51 IRB 1645, and Notice 2022–22, 2022– 

20 IRB 1057. 

4This report is available at https://www.soa.org/ 

globalassets/assets/files/research/exp-study/ 

research-2014-rp-report.pdf. 

5This report is available at https://www.soa.org/ 

globalassets/assets/Files/Research/Exp-Study/ 

mortality-improvement-scale-mp-2016.pdf. 

6This report is available at https://www.soa.org/ 

globalassets/assets/files/resources/experiencestudies/2019/pri-2012-mortality-tables-report.pdf. 

7This report is available at https://www.soa.org/ 

globalassets/assets/files/resources/experiencestudies/2021/2021-mp-scale-report.pdf. 

8This report is available at https://www.soa.org/ 

resources/research-reports/2022/rpec-mortalityimprovement/. 

9RPEC noted that, if it had used its standard 

graduation model and had included 2020 data in 

accordance with its usual practice, this would have 

had the effect of elevating mortality improvement 

rates for periods prior to the pandemic. 

provided pursuant to section 

430(h)(3)(A). The Secretary is to 

establish separate tables for individuals 

with disabilities occurring in plan years 

beginning before January 1, 1995, and 

for individuals with disabilities 

occurring in later plan years, with the 

mortality tables for individuals with 

disabilities occurring in those later plan 

years applying only to individuals who 

are disabled within the meaning of Title 

II of the Social Security Act.2

Section 417(e)(3) generally provides 

that the present value of certain benefits 

under a qualified pension plan 

(including single-sum distributions) 

must not be less than the present value 

of the accrued benefit using applicable 

interest rates and the applicable 

mortality table. Section 417(e)(3)(B) 

defines the term ‘‘applicable mortality 

table’’ as the mortality table specified 

for the plan year for minimum funding 

purposes under section 430(h)(3)(A) 

(without regard to the rules for 

substitute mortality tables under section 

430(h)(3)(C) or mortality tables for 

disabled individuals under section 

430(h)(3)(D)), modified as appropriate 

by the Secretary. The modifications 

made by the Secretary to the section 

430(h)(3)(A) mortality table to 

determine the section 417(e)(3)(B) 

applicable mortality table are not 

addressed in these regulations. Revenue 

Ruling 2007–67, 2007–2 CB 1047, 

describes the modifications that are 

currently applied to determine the 

section 417(e)(3)(B) applicable mortality 

table. 

Final regulations under section 

430(h)(3) were published in the Federal 

Register on October 5, 2017, in TD 9826, 

82 FR 46388 (the 2017 regulations). 

Section 1.430(h)(3)–1 prescribes base 

mortality tables and a set of mortality 

improvement rates, which may be 

reflected through the use of either 

generational mortality tables or static 

mortality tables. The generational 

mortality tables are a series of mortality 

tables, one for each year of birth, each 

of which fully reflects projected trends 

in mortality rates. The static mortality 

tables (which are updated annually 3) 

use a single mortality table for all years 

of birth to approximate the present 

value that would be determined using 

the generational mortality tables. 

The mortality tables included in the 

2017 regulations are based on the 

mortality tables included in the RP– 

2014 Mortality Tables Report 4 (referred 

to in this preamble as the RP–2014 

mortality tables), which was released by 

the Retirement Plan Experience 

Committee (RPEC) of the Society of 

Actuaries (SOA) in October 2014 (as 

revised in November 2014), and a set of 

mortality improvement rates as released 

by RPEC in the Mortality Improvement 

Scale MP–2016 Report.5 In 2016, RPEC 

initiated a study of private-sector 

retirement plans in the U.S. in order to 

provide an update to the RP–2014 

mortality tables, and in 2019, RPEC 

issued the Pri-2012 Private Retirement 

Plans Mortality Tables Report (Pri-2012 

Report).6 In October 2021, RPEC 

published the Mortality Improvement 

Scale MP–2021 Report (MP–2021 

Report), which includes the latest 

mortality improvement scale issued by 

RPEC.7

The standards prescribed for 

developing the mortality tables under 

section 430(h)(3)(A) are the same as the 

standards that are prescribed for 

developing mortality tables for 

multiemployer plans under section 

431(c)(6)(D)(iv)(II) (which are used to 

determine current liability in order to 

determine the minimum full funding 

limitation under section 431(c)(6)(B)). 

These standards also apply for CSEC 

plans described in section 414(y) for 

purposes of developing mortality tables 

that are used for purposes of section 

433(h)(3)(B)(i) (to determine current 

liability in order to determine the 

minimum full funding limitation under 

section 433(c)(2)(C) and the funded 

current liability percentage under 

section 433(i)). 

Proposed regulations to update the 

mortality tables issued under section 

430(h)(3) and make certain other 

changes regarding those tables were 

published in the Federal Register on 

April 28, 2022 (87 FR 25161) (the 

proposed regulations). Five comments 

on the proposed regulations were 

received. No commenters requested to 

speak at the scheduled public hearing; 

accordingly, the public hearing was 

canceled. 

On October 27, 2022, RPEC released 

a report titled the ‘‘RPEC 2022 Mortality 

Improvement Update.’’ 8 Unlike RPEC’s 

previously issued reports regarding 

mortality improvement, this report does 

not include a new mortality 

improvement scale. RPEC noted that, as 

of the date of that report, the most 

recent year for which full-year mortality 

data was available was 2020, which was 

severely affected by the COVID–19 

pandemic. RPEC concluded that it 

would not be appropriate to incorporate, 

without adjustment, the substantially 

higher rates of mortality experience 

from 2020 into the models RPEC had 

previously used to project future 

mortality.9 Therefore, RPEC chose not to 

release a new mortality improvement 

scale in 2022. Instead, RPEC 

recommended the use of an assumed 

increase in mortality rates to reflect the 

impact of the COVID–19 pandemic, 

which would be phased out after an 

appropriate period. RPEC did not 

recommend a specific level for this 

assumed increase but provided data 

about mortality rates for 2020 through 

the first half of 2022 and provided 

examples of assumed increases that 

could be used (including the assumed 

increase used in the 2022 Annual 

Report of the Board of Trustees of the 

Federal Old-Age and Survivors 

Insurance and Federal Disability 

Insurance Trust Funds). 

Section 335 of the SECURE 2.0 Act of 

2022 (SECURE 2.0 Act), which was 

enacted on December 29, 2022 as 

Division T of the Consolidated 

Appropriations Act, 2023, Public Law 

117–328 (136 Stat. 4459), instructs the 

Secretary or the Secretary’s delegate to 

amend the regulations under section 

430(h)(3)(A) no later than June 30, 2024. 

Under this provision, for valuation dates 

occurring during or after 2024, the 

mortality improvement rates specified 

in those regulations must not assume for 

years beyond the valuation date 

mortality improvements at any age that 

are greater than 0.78 percent. Section 

335 of the SECURE 2.0 Act also 

instructs the Secretary (or delegate) to 

modify the 0.78 percent limitation to 

reflect material changes in the overall 

rate of improvement projected by the 

Social Security Administration. 


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10This report is available at https://www.soa.org/ 

globalassets/assets/files/resources/experiencestudies/2020/mortality-improvement-scale-mp2020.pdf. 

11Because the mortality rates provided in these 

regulations apply beginning in 2024 (that is, after 

the height of the COVID–19 pandemic), the 

significantly higher rates of mortality experience 

during 2020 through 2023 are not determinative of 

mortality rates for later years. However, the 

Treasury Department and the IRS expect that 

mortality in the future will be marginally higher 

than what was projected based on mortality 

experience prior to the COVID–19 pandemic. This 

expectation has been reflected through the 

elimination of any mortality improvement 

assumption for the years 2020 through 2023. 

12Because the 0.78 percent cap applies to rates 

for years after the year that includes the applicable 

valuation date, the first impact of that cap will be 

on the mortality rates that are projected to apply in 

2025. 

After consideration of public 

comments received on the proposed 

regulations (and taking into account 

section 335 of the SECURE 2.0 Act), the 

proposed regulations are adopted by 

this Treasury decision, with certain 

changes. These changes include: (1) a 

delay in the applicability date; (2) 

modifications in the mortality 

improvement rates to reflect the 

expected ongoing impact of COVID–19 

on mortality rates and to reflect the 0.78 

percent annual cap on mortality 

improvement rates as required by 

section 335 of the SECURE 2.0 Act; and 

(3) a minor change related to the 

treatment of individuals who are not 

identified as male or female. 

Summary of Comments and 

Explanation of Revisions 

These regulations set forth the 

updated methodology for determining 

the generally applicable mortality tables 

that are used to calculate present value 

under section 430 of the Code. Pursuant 

to section 417(e)(3)(B), a modified 

version of these tables is used for 

purposes of determining the amount of 

a single-sum distribution (or another 

accelerated form of distribution). In 

addition, these tables are used to 

determine current liability for 

multiemployer plans under section 

431(c)(6) and CSEC plans under section 

433(h). 

The updated methodology for 

determining the generally applicable 

mortality tables under section 

430(h)(3)(A) is issued pursuant to the 

requirement under section 430(h)(3)(B) 

to revise the mortality tables used under 

section 430 to reflect the actual 

mortality experience of pension plan 

participants and projected trends in that 

experience as well as the requirement 

under section 335 of the SECURE 2.0 

Act that mortality improvement rates 

provided under the regulations for years 

after the year that includes the 

applicable valuation date may not 

exceed 0.78 percent per year. As under 

the 2017 regulations and the proposed 

regulations, the methodology for 

determining generally applicable 

mortality tables involves the separate 

determination of base mortality tables 

and the projection of mortality 

improvement. 

A. Base Mortality Tables 

These regulations adopt the base 

mortality tables set forth in the 

proposed regulations for use under 

section 430(h)(3)(A) of the Code, which 

are derived from the tables set forth in 

the Pri-2012 Report. No commenter 

suggested any alternative source for base 

mortality tables. 

Like the base mortality tables 

provided in the 2017 regulations, the 

base mortality tables set forth in these 

regulations are gender-distinct and 

provide separate non-annuitant and 

annuitant mortality rates. The base 

mortality tables have a base year of 2012 

(the central year of the experience study 

used to develop the mortality tables in 

the Pri-2012 Report). These base tables 

generally have the same mortality rates 

as the employee and non-disabled 

annuitant mortality rates (amounts 

weighted) that were released by RPEC in 

connection with the Pri-2012 Report. 

However, these base tables also include 

non-annuitant mortality rates for ages 

below 18 and above 80 and annuitant 

mortality rates for ages below age 50. 

This generally is the same approach that 

was used to develop the base mortality 

tables in the 2017 regulations. The 

preamble to the proposed regulations 

describes the methodology that was 

used to develop non-annuitant mortality 

rates for ages below age 18 and above 

age 80 and annuitant mortality rates for 

ages below age 50. See 87 FR 25161, 

25163. 

B. Mortality Improvement 

These regulations adopt the 

methodology set forth in the proposed 

regulations regarding the adjustment of 

the base mortality tables to reflect 

expected trends in mortality 

improvement but use different mortality 

improvement rates. The proposed 

regulations applied the Scale MP–2021 

Rates (the mortality improvement scale 

in the MP–2021 Report) for valuation 

dates in the 2023 calendar year. This 

mortality improvement scale was 

developed using the same underlying 

methodology used to develop earlier 

mortality improvement scales but 

reflects historical population data 

through 2019 and the change to the 

RPEC-selected assumptions for the longterm rate of mortality improvement that 

was first incorporated in the Mortality 

Improvement Scale MP–2020 Report.10

One commenter expressed concern 

that the expected long-term 

improvements in longevity reflected in 

the MP–2021 Report may be overly 

optimistic and suggested that 

regulations apply a cap on the long-term 

mortality improvement rates used. 

Another commenter recommended that 

future mortality rates be increased to 

reflect the long-term impact of COVID– 

19. 

After considering all the comments 

and the RPEC 2022 Mortality 

Improvement Update, the Department of 

the Treasury (Treasury Department) and 

the IRS have decided to adopt a 

modified version of the MP–2021 

Mortality Improvement Scale for 

valuation dates occurring on or after 

January 1, 2024. The mortality 

improvement scale applicable for 

valuation dates occurring on or after 

January 1, 2024, which is referred to as 

the 2024 Adjusted Scale MP–2021 

Rates, is based on the Scale MP–2021 

Rates. However, the 2024 Adjusted 

Scale MP–2021 Rates reflect a 

modification to the Scale MP–2021 

Rates that eliminates any mortality 

improvement during 2020, 2021, 2022, 

and 2023 (while retaining any projected 

mortality deterioration for those years 

under the MP–2021 Mortality 

Improvement Scale).11 In addition, in 

response to the statutory instruction in 

section 335 of the SECURE 2.0 Act, the 

2024 Adjusted Scale MP–2021 

incorporates a cap on mortality 

improvement rates of 0.78 percent per 

year for years after 2024.12 This cap on 

mortality improvement rates is 

statutorily required by a clear statutory 

instruction, and public comment on the 

cap rate is unnecessary. 

The Treasury Department and the IRS 

intend to consider new data regarding 

mortality trends of the general 

population as it becomes available 

(including future reports and mortality 

improvement scales issued by RPEC, as 

well as projections of mortality 

improvement issued by the Social 

Security Administration) and to specify 

new mortality improvement rates that 

reflect updated data when future 

modifications become appropriate. 

Those new mortality improvement rates 

will incorporate the cap on mortality 

improvement rates described in section 

335 of the SECURE 2.0 Act (including 

a change to the level of the 0.78 percent 

cap on annual mortality improvement 

rates as a result of any material changes 

in the overall rate of improvement 


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13For example, it might be reasonable to apply an 

approach based on an equal weighting of male 

mortality rates and female mortality rates if the 

gender ratio of the portion of the plan population 

for whom male or female gender is identified is 

sufficiently close to 50 percent male and 50 percent 

female. 

projected by the Social Security 

Administration). 

C. Use of Static Tables for Small Plans 

The 2017 regulations provide for the 

use of separate generational nonannuitant and annuitant mortality tables 

and separate static non-annuitant and 

annuitant mortality tables. However, the 

proposed regulations provided for the 

elimination of the use of static mortality 

tables other than for small plans. This 

change was proposed because the 

Treasury Department and the IRS 

believe that there was no longer a need 

to allow the use of static mortality tables 

for larger plans (as most actuarial firms 

have the capability to use generational 

mortality tables) and to minimize antiselection by plan sponsors who 

determine that the use of static mortality 

tables results in lower minimum 

funding requirements. No commenters 

objected to this change, and these 

regulations adopt that change. 

D. Individuals Not Identified as Male or 

Female 

One commenter requested that final 

regulations clarify how the mortality 

tables under section 430(h)(3)(A) are 

applied in the case of a participant or 

beneficiary who identifies as nonbinary. 

To address this issue, and to clarify how 

these tables should be applied for the 

portion of a plan’s population for whom 

gender data is not available, the 

regulations provide that the plan’s 

actuary must use a reasonable approach 

in applying the section 430(h)(3)(A) 

mortality tables with respect to the 

portion of a plan’s population whose 

gender is not identified as male or 

female (for example, a plan participant 

who identifies as nonbinary or for 

whom gender is not known). The 

regulations include two examples of 

reasonable approaches that may be used 

for this purpose. These two approaches 

are merely two reasonable methods for 

determining liabilities with respect to 

individuals for whom male or female 

gender is not identified, and other 

reasonable approaches may be 

appropriate.13

Under the first approach, the liability 

for an individual is determined as the 

weighted average of the liability 

calculated as if the individual were 

male and the liability calculated as if 

the individual were female, using an 

appropriate weighting that takes into 

account the distribution of gender in the 

plan’s population for individuals for 

whom gender is identified. For example, 

if the gender distribution in a plan’s 

population for whom the gender is 

identified is 2⁄3 male and 1⁄3 female, the 

liability calculated for the individual 

would be equal to 2⁄3 of the liability 

calculated as if the individual were 

male and 1⁄3 of the liability calculated as 

if the individual were female. 

The second approach might be used 

in connection with actuarial software 

that is not able to apply a weight to 

individuals in the plan census. Under 

the second approach, either male or 

female status is assigned randomly to an 

individual for whom male or female 

gender is not identified in a manner that 

is expected to result in an appropriate 

proportion of males and females for the 

plan population that takes into account 

the distribution of gender for 

individuals in the plan’s population for 

whom gender is identified. For example, 

if the gender distribution in a plan 

population for whom the gender is 

identified is 2⁄3 male and 1⁄3 female, a 

gender may be assigned to an individual 

for whom gender is not identified based 

on the individual’s birthdate, with 

someone born in the first 8 months of 

the year assigned male gender and 

someone born in the last 4 months of 

the year assigned female gender. 

Applicability Date 

These regulations apply for valuation 

dates occurring on or after January 1, 

2024. 

Effect of Regulations on Previously 

Approved Substitute Mortality Tables 

The 2017 regulations also included 

rules regarding the use of plan-specific 

substitute mortality tables under section 

430(h)(3)(C), which are set forth in 

§ 1.430(h)(3)–2. Section 1.430(h)(3)– 

2(c)(6)(ii) provides for the early 

termination of the use of substitute 

mortality tables in certain 

circumstances, including in conjunction 

with a replacement of the mortality 

tables specified in § 1.430(h)(3)–1. 

Under § 1.430(h)(3)–2(c)(6)(ii)(E), the 

early termination in conjunction with a 

replacement of the generally applicable 

mortality tables will apply as of a date 

specified in guidance published in the 

Internal Revenue Bulletin. As stated in 

the preamble to the proposed 

regulations, the Treasury Department 

and the IRS generally will not require 

that the use of previously approved 

substitute mortality tables be terminated 

solely as a result of replacement of the 

generally applicable mortality tables. 

Proposed regulations modifying the 

rules for approving plan-specific 

substitute mortality tables are being 

published in the proposed rules section 

of this issue of the Federal Register. 

Those regulations are proposed to apply 

to plan years beginning on or after 

January 1, 2025. Until amendments to 

the plan-specific substitute mortality 

regulations are finalized—and an 

updated revenue procedure that reflects 

the final regulations is issued—the 

Treasury Department and the IRS will 

not require that any previously 

approved plan-specific substitute 

mortality tables be terminated pursuant 

to § 1.430(h)(3)–2(c)(6)(ii)(E). 

Incorporation by Reference 

Section 1.430(h)(3)–1(b)(1)(iii) of 

these regulations provides that the 

mortality improvement rates used to 

construct generational tables to be used 

for valuation dates occurring on or after 

January 1, 2024, are the 2024 Adjusted 

Scale MP–2021 Rates as described in the 

third paragraph of section B of the 

Summary of Comments and Explanation 

of Revisions in this preamble. The 

Office of the Federal Register (OFR) has 

regulations concerning incorporation by 

reference. 1 CFR part 51. These 

regulations require that agencies must 

discuss in the preamble to a rule or 

proposed rule the way in which 

materials that the agency incorporates 

by reference are reasonably available to 

interested persons, and how interested 

parties can obtain the materials. 1 CFR 

51.5(b). The 2024 Adjusted Scale MP– 

2021 Rates may be found at 

www.irs.gov/retirement-plans/pensionplan-mortality-tables. 

Statement of Availability of IRS 

Documents 

IRS Revenue Rulings, Revenue 

Procedures, and Notices cited in this 

document are published in the Internal 

Revenue Bulletin (or Cumulative 

Bulletin) and are available from the 

Superintendent of Documents, U.S. 

Government Printing Office, 

Washington, DC 20402, or by visiting 

the IRS website at www.irs.gov. 

Special Analyses 

Pursuant to the Memorandum of 

Agreement, Review of Treasury 

Regulations under Executive Order 

12866 (June 9, 2023), tax regulatory 

actions issued by the IRS are not subject 

to the requirements of section 6 of 

Executive Order 12866, as amended. 

Therefore, a regulatory impact 

assessment is not required. 

Pursuant to the Regulatory Flexibility 

Act (5 U.S.C. chapter 6), it is hereby 

certified that the regulations will not 

have a significant economic impact on 

a substantial number of small entities. 


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The only provision that increases 

regulatory burden is § 1.430(h)(3)–1(b), 

which generally requires the use of 

generational mortality tables. However, 

under § 1.430(h)(3)–1(c), small entities 

are not required to use generational 

mortality tables. Therefore, these 

regulations will not have a significant 

economic impact on a substantial 

number of small entities. 

Section 202 of the Unfunded 

Mandates Reform Act of 1995 requires 

that agencies assess anticipated costs 

and benefits and take certain other 

actions before issuing a final rule that 

includes any Federal mandate that may 

result in expenditures in any one year 

by a State, local, or tribal government, 

in the aggregate, or by the private sector, 

of $100 million in 1995 dollars, updated 

annually for inflation. These regulations 

do not include any Federal mandate that 

may result in expenditures by State, 

local, or tribal governments, or by the 

private sector in excess of that 

threshold. 

Executive Order 13132 (Federalism) 

prohibits an agency from publishing any 

rule that has federalism implications if 

the rule either imposes substantial, 

direct compliance costs on State and 

local governments, and is not required 

by statute, or preempts State law, unless 

the agency meets the consultation and 

funding requirements of section 6 of the 

Executive order. These regulations do 

not have federalism implications, 

impose substantial direct compliance 

costs on State and local governments, or 

preempt State law within the meaning 

of the Executive order. 

Pursuant to section 7805(f) of the 

Code, the proposed regulations that 

preceded these regulations were 

submitted to the Chief Counsel for 

Advocacy of the Small Business 

Administration for comment on their 

impact on small business. 

Pursuant to the Congressional Review 

Act (5 U.S.C. 801 et seq.), the Office of 

Information and Regulatory Affairs 

designated this rule as not a major rule, 

as defined by 5 U.S.C. 804(2). 

Drafting Information 

The principal authors of these 

regulations are Arslan Malik and Linda 

S.F. Marshall of the Office of Associate 

Chief Counsel (Employee Benefits, 

Exempt Organizations, and Employment 

Taxes). However, other personnel from 

the Treasury Department and the IRS 

participated in the development of these 

regulations. 

List of Subjects in 26 CFR Part 1 

Income taxes, Incorporation by 

reference, Reporting and recordkeeping 

requirements. 

Amendments to the Regulations 

Accordingly, 26 CFR part 1 is 

amended as follows: 

PART 1—INCOME TAXES 

■ Paragraph 1. The authority citation 

for part 1 continues to read, in part, as 

follows: 

Authority: 26 U.S.C. 7805 * * * 

■ Par. 2. Section 1.430(h)(3)–1 is 

revised to read as follows: 

§ 1.430(h)(3)–1 Mortality tables used to 

determine present value. 

(a) Overview—(1) Standard mortality 

tables. This section sets forth rules for 

the mortality tables to be used in 

determining present value or making 

any computation under section 430. 

These mortality tables include— 

(i) Generational mortality tables 

described in paragraph (b) of this 

section; and 

(ii) Static mortality tables for small 

plans described in paragraph (c) of this 

section. 

(2) Alternative tables—(i) Planspecific mortality tables. In lieu of using 

the mortality tables provided under this 

section, plan-specific substitute 

mortality tables are permitted to be used 

for purposes of section 430 pursuant to 

section 430(h)(3)(C), provided that the 

requirements of § 1.430(h)(3)–2 are 

satisfied. 

(ii) Disabled individuals. In lieu of 

using the mortality tables provided 

under this section, mortality tables for 

disabled individuals are permitted to be 

used pursuant to section 430(h)(3)(D). 

These tables are provided in guidance 

published in the Internal Revenue 

Bulletin. See § 601.601(d) of this 

chapter. 

(3) Individuals not identified as either 

male or female. The mortality tables in 

this section are applied for an 

individual based on the individual’s 

gender. With respect to the portion of a 

plan’s population for which male or 

female gender is not identified (for 

example, because an individual 

identifies as nonbinary or because the 

gender information for an individual is 

not available), the plan’s actuary must 

use a reasonable approach for 

determining liability. Some reasonable 

approaches for these individuals 

include— 

(i) Determining the liability for an 

individual for whom male or female 

gender is not identified as the weighted 

average of the liability calculated as if 

the individual were male and the 

liability calculated as if the individual 

were female, with an appropriate 

weighting that takes into account the 

distribution of gender for individuals in 

the plan’s population for whom gender 

is identified; and 

(ii) Assigning either male or female 

status randomly to an individual for 

whom male or female gender is not 

identified in a manner that is expected 

to result in an appropriate proportion of 

males and females for the plan’s 

population that takes into account the 

distribution of gender for individuals in 

the plan’s population for whom gender 

is identified. 

(b) Generational mortality tables—(1) 

In general—(i) Construction of 

generational mortality tables. The 

generational mortality tables that are 

permitted to be used under section 

430(h)(3)(A) and paragraph (a)(1)(i) of 

this section are constructed from the 

base mortality tables described in 

paragraph (b)(1)(ii) of this section and 

the mortality improvement rates 

described in paragraph (b)(1)(iii) of this 

section, as adjusted in accordance with 

paragraph (b)(1)(v) of this section. 

(ii) Base mortality tables. The base 

mortality tables are set forth in 

paragraph (d) of this section. 

(iii) Mortality improvement rates—(A) 

Mortality improvement rates for 

valuation dates occurring on or after 

January 1, 2024. Except as otherwise 

provided in this paragraph (b)(1)(iii), the 

mortality improvement rates for 

valuation dates occurring on or after 

January 1, 2024, are the 2024 Adjusted 

Scale MP–2021 Rates as incorporated by 

reference pursuant to paragraph 

(b)(1)(iv)(A) of this section. 

(B) [Reserved.] 

(iv) Incorporation by reference. The 

material listed in this paragraph 

(b)(1)(iv) is incorporated by reference 

into this section with the approval of 

the Director of the Federal Register 

under 5 U.S.C. 552(a) and 1 CFR part 51. 

This material is available for inspection 

at the IRS and at the National Archives 

and Records Administration (NARA). 

Contact IRS at: IRS Office of Chief 

Counsel, Qualified Plans Branch 1, 

CC:EEE:EB:QP1, 1111 Constitution 

Avenue NW, Washington, DC 20224; 

(202) 317–6700; www.irs.gov/retirementplans/pension-plan-mortality-tables. 

For information on the availability of 

this material at NARA, visit 

www.archives.gov/federal-register/cfr/ 

ibr-locations or email fr.inspection@

nara.gov. The material may be obtained 

from IRS: www.irs.gov/retirement-plans/ 

pension-plan-mortality-tables. 

(A) 2024 Adjusted Scale MP–2021 

Rates, dated August 11, 2023. 

(B) [Reserved] 

(2) Application of mortality 

improvement rates—(i) In general. 

Under the generational mortality tables 


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72362 Federal Register / Vol. 88, No. 202 / Friday, October 20, 2023 / Rules and Regulations 

described in this paragraph (b), the 

probability of an individual’s death at a 

particular age in the future is 

determined as the individual’s base 

mortality rate that applies at that age 

(that is, the applicable mortality rate 

from the tables set forth in paragraph (d) 

of this section for that age, gender, and 

status as an annuitant or a nonannuitant) multiplied by the cumulative 

mortality improvement factor for the 

individual’s gender and for that age for 

the period from the base year for those 

mortality tables through the calendar 

year in which the individual is 

projected to reach the particular age. 

Paragraph (b)(3) of this section provides 

an example that shows how the base 

mortality tables in paragraph (d) of this 

section and the mortality improvement 

rates for valuation dates occurring 

during 2024 are combined to determine 

projected mortality rates. 

(ii) Cumulative mortality 

improvement factor. The cumulative 

mortality improvement factor for an age 

and gender for a period is the product 

of the annual mortality improvement 

factors for that age and gender for each 

year within that period. 

(iii) Annual mortality improvement 

factor. The annual mortality 

improvement factor for an age and 

gender for a year is 1 minus the 

mortality improvement rate that applies 

for that age and gender for that year. If 

that annual mortality improvement rate 

is greater than 1 (corresponding to a 

negative mortality improvement rate), 

then the projected mortality rate for that 

age and gender for that year is greater 

than the projected mortality rate for the 

same age and gender for the preceding 

year. 

(3) Example of calculation—(i) 

Calculation of mortality rate. The 

mortality rate for 2024 that is applied to 

a male annuitant who is age 68 in 2024 

is equal to the product of the mortality 

rate under paragraph (d) of this section 

for a male annuitant who was age 68 in 

2012 (0.01418) and the cumulative 

mortality improvement factor calculated 

from the 2024 Adjusted Scale MP–2021 

Rates for an age 68 male from 2012 to 

2024. The cumulative mortality 

improvement factor for age 68 males for 

the period from 2012 to 2024 is 0.9827, 

and the mortality rate for 2024 for male 

annuitants who are age 68 in that year 

is 0.01393, as shown in the following 

table. 

TABLE 1 TO PARAGRAPH (b)(3)(i) 

Calendar 

year 

Rate of mortality 

improvement 

from prior year to 

current year 

Annual mortality 

improvement 

factor 

(1¥mortality 

improvement rate) 

Cumulative 

mortality 

improvement 

factor 

Mortality 

rate 

2012 ......................................................................................... n/a n/a n/a 0.01418 

2013 ......................................................................................... 0.0071 0.9929 0.9929 ........................

2014 ......................................................................................... 0.0047 0.9953 0.9882 ........................

2015 ......................................................................................... 0.0029 0.9971 0.9854 ........................

2016 ......................................................................................... 0.0017 0.9983 0.9837 ........................

2017 ......................................................................................... 0.0009 0.9991 0.9828 ........................

2018 ......................................................................................... 0.0001 0.9999 0.9827 ........................

2019 ......................................................................................... (0.0001) 1.0001 0.9828 ........................

2020 ......................................................................................... 0.0001 0.9999 0.9827 ........................

2021 ......................................................................................... 0.0000 1.0000 0.9827 ........................

2022 ......................................................................................... 0.0000 1.0000 0.9827 ........................

2023 ......................................................................................... 0.0000 1.0000 0.9827 ........................

2024 ......................................................................................... 0.0000 1.0000 0.9827 0.01393 

(ii) Probability of survival for an 

individual. After the projected mortality 

rates are derived for each age for each 

year, the rates are used to calculate the 

present value of a benefit stream that 

depends on the probability of survival 

year-by-year. For example, for purposes 

of calculating the present value (for a 

2024 valuation date) of future payments 

in a benefit stream payable for a male 

annuitant who is age 68 in 2024, the 

probability of survival for the annuitant 

is based on the mortality rate for a male 

annuitant who is age 68 in 2024 

(0.01393), and the projected mortality 

rate for a male annuitant who will be 

age 69 in 2025 (0.01507), age 70 in 2026 

(0.01635), and so on. 

(4) Use of the tables—(i) Separate 

tables for annuitants and nonannuitants. Separate mortality tables are 

provided for use with respect to 

annuitants and non-annuitants. The 

non-annuitant mortality tables are 

applied to determine the probability of 

survival for a non-annuitant for the 

period before the non-annuitant is 

projected to commence receiving 

benefits. The annuitant mortality tables 

are applied to determine the present 

value of benefits for each annuitant. In 

addition, the annuitant mortality tables 

are applied for each non-annuitant with 

respect to each assumed commencement 

of benefits for the period beginning with 

that assumed commencement. For 

purposes of this section, an annuitant 

means a plan participant who has 

commenced receiving benefits and a 

non-annuitant means a plan participant 

who has not yet commenced receiving 

benefits (for example, an active 

employee or a terminated vested 

participant). A participant whose 

benefit has partially commenced is 

treated as an annuitant with respect to 

the portion of the benefit that has 

commenced and treated as a nonannuitant with respect to the balance of 

the benefit. In addition, with respect to 

a beneficiary of a participant, the 

annuitant mortality tables apply for the 

period beginning with each assumed 

commencement of benefits for the 

participant. If the participant has died 

(or to the extent the participant is 

assumed to die before commencing 

benefits), the annuitant mortality tables 

apply with respect to the beneficiary for 

the period beginning with each assumed 

commencement of benefits for the 

beneficiary. 

(ii) Examples of calculation using 

separate non-annuitant and annuitant 

tables. With respect to a 45-year-old 

active participant who is projected to 

commence receiving an annuity at age 

55, the funding target is determined 

using the non-annuitant mortality tables 

for the period before the participant 

attains age 55 and using the annuitant 

mortality tables for the period ages 55 

and above. Similarly, for a 45-year-old 

terminated vested participant who is 

projected to commence an annuity at 


ddrumheller on DSK120RN23PROD with RULES1
Federal Register / Vol. 88, No. 202 / Friday, October 20, 2023 / Rules and Regulations 72363 

age 65, the funding target is determined 

using the non-annuitant mortality tables 

for the period before the participant 

attains age 65 and using the annuitant 

mortality tables for ages 65 and above. 

(c) Static mortality tables—(1) 

Availability of alternative tables for 

small plans—(i) In general. As an 

alternative to the generational mortality 

tables defined in paragraph (b) of this 

section, static mortality tables may be 

used for a small plan. The static 

mortality tables described in this 

paragraph (c) are constructed from the 

separate non-annuitant and annuitant 

static mortality tables described in 

paragraph (c)(2)(i) of this section, 

combined using the procedure 

described in paragraph (c)(2)(ii) of this 

section. 

(ii) Definition of small plan. For 

purposes of this paragraph (c), a small 

plan is defined as a plan with 500 or 

fewer total participants (including both 

active and inactive participants and 

beneficiaries of deceased participants) 

on the valuation date. 

(iii) Use of static mortality tables. The 

static mortality tables that are used for 

a valuation date are the static mortality 

tables for the calendar year that includes 

the valuation date. 

(iv) Publication of mortality tables. 

The static mortality tables for the 2024 

calendar year are set forth in paragraph 

(e) of this section. 

Note 1 to paragraph (c)(1)(iv): The static 

mortality tables for valuation dates occurring 

in later calendar years will be published in 

the Internal Revenue Bulletin. See 

§ 601.601(d) of this chapter. 

(2) Development of static mortality 

tables—(i) Non-annuitant and annuitant 

mortality tables. The non-annuitant and 

annuitant static mortality tables are 

determined using the base mortality 

tables described in paragraph (b)(1)(ii) 

of this section. The rates in those base 

mortality tables are adjusted using the 

mortality improvement rates described 

in paragraph (b)(1)(iii) of this section, in 

accordance with the rules set forth in 

paragraph (c)(3) of this section. 

(ii) Combined static mortality tables. 

The static mortality tables described in 

this paragraph (c) are constructed from 

the separate non-annuitant and 

annuitant static mortality tables 

pursuant to paragraph (c)(2)(i) of this 

section, blended using the weighting 

factors in paragraph (d) of this section. 

The weighting factors are applied to 

develop these combined static tables 

using the following equation: Combined 

mortality rate = [non-annuitant rate * (1 

¥ weighting factor)] + [annuitant rate * 

weighting factor]. 

(3) Projection of mortality 

improvements—(i) General rule. Except 

as provided in paragraph (c)(3)(iii) of 

this section, the static mortality tables 

for a calendar year are determined by 

multiplying the applicable mortality 

rate for each age from the base mortality 

tables by both— 

(A) The cumulative mortality 

improvement factor (determined under 

paragraph (b)(2)(ii) of this section) for 

the period from 2012 through that 

calendar year; and 

(B) The cumulative mortality 

improvement factor (determined under 

paragraph (b)(2)(ii) of this section) for 

the period beginning in that calendar 

year and continuing beyond that 

calendar year for the number of years in 

the projection period described in 

paragraph (c)(3)(ii) of this section. 

(ii) Projection period for static 

mortality tables—(A) In general. The 

projection period is 8 years for males 

and 9 years for females, as adjusted 

based on age as provided in paragraph 

(c)(3)(ii)(B) of this section. 

(B) Age adjustment. For ages below 

80, the projection period is increased by 

1 year for each year below age 80. For 

ages above 80, the projection period is 

reduced (but not below zero) by 1⁄3 year 

for each year above 80. 

(iii) Fractional projection periods. If 

for an age the number of years in the 

projection period determined under 

paragraph (c)(3)(ii) of this section is not 

a whole number, then the mortality rate 

for that age is determined by using 

linear interpolation between— 

(A) The mortality rate for that age that 

would be determined under paragraph 

(c)(3)(i) of this section if the number of 

years in the projection period were the 

next lower whole number; and 

(B) The mortality rate for that age that 

would be determined under paragraph 

(c)(3)(i) of this section if the number of 

years in the projection period were the 

next higher whole number. 

(iv) Example. For example, at age 85 

the projection period for a male is 61⁄3

years (8 years minus 1⁄3 year for each of 

the 5 years above age 80). For a 

valuation date in 2024, the mortality 

rate in the static mortality table for an 

85-year-old male is based on a 

projection of mortality improvement for 

61⁄3 years beyond 2024. Under 

paragraph (c)(3)(iii) of this section, the 

mortality rate for an 85-year-old male 

annuitant in the static mortality table for 

2024 is 2⁄3 times the projected mortality 

rate for a male annuitant that age in 

2030 plus 1⁄3 times the projected 

mortality rate for a male annuitant that 

age in 2031. Accordingly, the mortality 

rate for an 85-year-old male annuitant in 

the static mortality table for 2024 is 

0.08126 (2⁄3 times the projected 

mortality rate for an 85-year-old male 

annuitant in 2030 (0.08146) plus 1⁄3

times the projected mortality rate for an 

85-year-old male annuitant in 2031 

(0.08086)). 

(d) Base mortality tables. The 

following are the base mortality tables. 

The base year for these tables is 2012. 

TABLE 2 TO PARAGRAPH (d) 

Age 

Males Females 

Non-annuitant Annuitant 

Weighting 

factor 

for small 

plan 

Non-annuitant Annuitant 

Weighting 

factor 

for small 

plans 

0 ............................................................... 0.00650 0.00650 0.0000 0.00544 0.00544 0.0000 

1 ............................................................... 0.00045 0.00045 0.0000 0.00038 0.00038 0.0000 

2 ............................................................... 0.00030 0.00030 0.0000 0.00023 0.00023 0.0000 

3 ............................................................... 0.00022 0.00022 0.0000 0.00018 0.00018 0.0000 

4 ............................................................... 0.00019 0.00019 0.0000 0.00013 0.00013 0.0000 

5 ............................................................... 0.00016 0.00016 0.0000 0.00012 0.00012 0.0000 

6 ............................................................... 0.00014 0.00014 0.0000 0.00011 0.00011 0.0000 

7 ............................................................... 0.00013 0.00013 0.0000 0.00010 0.00010 0.0000 

8 ............................................................... 0.00011 0.00011 0.0000 0.00009 0.00009 0.0000 

9 ............................................................... 0.00009 0.00009 0.0000 0.00009 0.00009 0.0000 

10 ............................................................. 0.00008 0.00008 0.0000 0.00009 0.00009 0.0000 

11 ............................................................. 0.00009 0.00009 0.0000 0.00009 0.00009 0.0000 


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72364 Federal Register / Vol. 88, No. 202 / Friday, October 20, 2023 / Rules and Regulations 

TABLE 2 TO PARAGRAPH (d)—Continued 

Age 

Males Females 

Non-annuitant Annuitant 

Weighting 

factor 

for small 

plan 

Non-annuitant Annuitant 

Weighting 

factor 

for small 

plans 

12 ............................................................. 0.00013 0.00013 0.0000 0.00010 0.00010 0.0000 

13 ............................................................. 0.00017 0.00017 0.0000 0.00012 0.00012 0.0000 

14 ............................................................. 0.00022 0.00022 0.0000 0.00013 0.00013 0.0000 

15 ............................................................. 0.00028 0.00028 0.0000 0.00013 0.00013 0.0000 

16 ............................................................. 0.00034 0.00034 0.0000 0.00014 0.00014 0.0000 

17 ............................................................. 0.00040 0.00040 0.0000 0.00015 0.00015 0.0000 

18 ............................................................. 0.00046 0.00046 0.0000 0.00015 0.00015 0.0000 

19 ............................................................. 0.00053 0.00053 0.0000 0.00015 0.00015 0.0000 

20 ............................................................. 0.00056 0.00056 0.0000 0.00015 0.00015 0.0000 

21 ............................................................. 0.00056 0.00056 0.0000 0.00015 0.00015 0.0000 

22 ............................................................. 0.00056 0.00056 0.0000 0.00016 0.00016 0.0000 

23 ............................................................. 0.00055 0.00055 0.0000 0.00018 0.00018 0.0000 

24 ............................................................. 0.00055 0.00055 0.0000 0.00019 0.00019 0.0000 

25 ............................................................. 0.00054 0.00054 0.0000 0.00019 0.00019 0.0000 

26 ............................................................. 0.00054 0.00054 0.0000 0.00019 0.00019 0.0000 

27 ............................................................. 0.00054 0.00054 0.0000 0.00020 0.00020 0.0000 

28 ............................................................. 0.00054 0.00054 0.0000 0.00020 0.00020 0.0000 

29 ............................................................. 0.00054 0.00054 0.0000 0.00020 0.00020 0.0000 

30 ............................................................. 0.00055 0.00055 0.0000 0.00021 0.00021 0.0000 

31 ............................................................. 0.00055 0.00055 0.0000 0.00022 0.00022 0.0000 

32 ............................................................. 0.00056 0.00056 0.0000 0.00023 0.00023 0.0000 

33 ............................................................. 0.00058 0.00058 0.0000 0.00025 0.00025 0.0000 

34 ............................................................. 0.00059 0.00059 0.0000 0.00026 0.00026 0.0000 

35 ............................................................. 0.00061 0.00061 0.0000 0.00028 0.00028 0.0000 

36 ............................................................. 0.00063 0.00063 0.0000 0.00031 0.00031 0.0000 

37 ............................................................. 0.00065 0.00065 0.0000 0.00034 0.00034 0.0000 

38 ............................................................. 0.00068 0.00068 0.0000 0.00036 0.00036 0.0000 

39 ............................................................. 0.00071 0.00071 0.0000 0.00040 0.00040 0.0000 

40 ............................................................. 0.00074 0.00074 0.0000 0.00043 0.00043 0.0000 

41 ............................................................. 0.00077 0.00082 0.0008 0.00047 0.00049 0.0010 

42 ............................................................. 0.00081 0.00099 0.0016 0.00051 0.00061 0.0020 

43 ............................................................. 0.00086 0.00124 0.0024 0.00055 0.00078 0.0030 

44 ............................................................. 0.00091 0.00158 0.0032 0.00060 0.00101 0.0040 

45 ............................................................. 0.00097 0.00200 0.0040 0.00065 0.00130 0.0051 

46 ............................................................. 0.00105 0.00251 0.0047 0.00071 0.00165 0.0061 

47 ............................................................. 0.00113 0.00310 0.0055 0.00077 0.00206 0.0071 

48 ............................................................. 0.00123 0.00378 0.0063 0.00083 0.00252 0.0081 

49 ............................................................. 0.00134 0.00454 0.0071 0.00090 0.00304 0.0091 

50 ............................................................. 0.00147 0.00539 0.0079 0.00098 0.00362 0.0101 

51 ............................................................. 0.00161 0.00544 0.0140 0.00107 0.00426 0.0185 

52 ............................................................. 0.00177 0.00565 0.0209 0.00116 0.00495 0.0262 

53 ............................................................. 0.00194 0.00588 0.0302 0.00126 0.00500 0.0349 

54 ............................................................. 0.00213 0.00616 0.0430 0.00137 0.00512 0.0449 

55 ............................................................. 0.00234 0.00647 0.0898 0.00148 0.00517 0.0853 

56 ............................................................. 0.00257 0.00686 0.1676 0.00161 0.00522 0.1535 

57 ............................................................. 0.00281 0.00728 0.2153 0.00175 0.00528 0.1923 

58 ............................................................. 0.00308 0.00770 0.2635 0.00190 0.00561 0.2291 

59 ............................................................. 0.00338 0.00811 0.3144 0.00206 0.00601 0.2680 

60 ............................................................. 0.00369 0.00848 0.3821 0.00224 0.00643 0.3192 

61 ............................................................. 0.00403 0.00882 0.4579 0.00243 0.00690 0.3731 

62 ............................................................. 0.00441 0.00918 0.5935 0.00264 0.00743 0.4705 

63 ............................................................. 0.00481 0.00960 0.7153 0.00287 0.00796 0.5668 

64 ............................................................. 0.00525 0.01014 0.7764 0.00312 0.00859 0.6230 

65 ............................................................. 0.00573 0.01087 0.8454 0.00339 0.00928 0.7172 

66 ............................................................. 0.00636 0.01178 0.9002 0.00380 0.01003 0.8006 

67 ............................................................. 0.00706 0.01288 0.9275 0.00427 0.01089 0.8414 

68 ............................................................. 0.00784 0.01418 0.9431 0.00480 0.01192 0.8658 

69 ............................................................. 0.00870 0.01564 0.9547 0.00540 0.01309 0.8857 

70 ............................................................. 0.00967 0.01729 0.9642 0.00606 0.01444 0.9046 

71 ............................................................. 0.01073 0.01914 0.9732 0.00681 0.01597 0.9240 

72 ............................................................. 0.01192 0.02121 0.9791 0.00765 0.01770 0.9365 

73 ............................................................. 0.01323 0.02354 0.9823 0.00860 0.01967 0.9437 

74 ............................................................. 0.01469 0.02613 0.9847 0.00966 0.02192 0.9512 

75 ............................................................. 0.01632 0.02905 0.9868 0.01085 0.02445 0.9568 

76 ............................................................. 0.01812 0.03233 0.9889 0.01219 0.02727 0.9637 

77 ............................................................. 0.02012 0.03604 0.9906 0.01370 0.03042 0.9682 

78 ............................................................. 0.02234 0.04026 0.9920 0.01539 0.03391 0.9727 

79 ............................................................. 0.02480 0.04504 0.9935 0.01729 0.03775 0.9765 


ddrumheller on DSK120RN23PROD with RULES1
Federal Register / Vol. 88, No. 202 / Friday, October 20, 2023 / Rules and Regulations 72365 

TABLE 2 TO PARAGRAPH (d)—Continued 

Age 

Males Females 

Non-annuitant Annuitant 

Weighting 

factor 

for small 

plan 

Non-annuitant Annuitant 

Weighting 

factor 

for small 

plans 

80 ............................................................. 0.02754 0.05046 1.0000 0.01943 0.04198 1.0000 

81 ............................................................. 0.02989 0.05657 1.0000 0.02134 0.04663 1.0000 

82 ............................................................. 0.03460 0.06343 1.0000 0.02516 0.05178 1.0000 

83 ............................................................. 0.04166 0.07114 1.0000 0.03089 0.05754 1.0000 

84 ............................................................. 0.05108 0.07977 1.0000 0.03853 0.06401 1.0000 

85 ............................................................. 0.06285 0.08946 1.0000 0.04808 0.07132 1.0000 

86 ............................................................. 0.07698 0.10032 1.0000 0.05955 0.07954 1.0000 

87 ............................................................. 0.09346 0.11248 1.0000 0.07293 0.08879 1.0000 

88 ............................................................. 0.11229 0.12600 1.0000 0.08822 0.09936 1.0000 

89 ............................................................. 0.13348 0.14088 1.0000 0.10542 0.11124 1.0000 

90 ............................................................. 0.15703 0.15703 1.0000 0.12453 0.12453 1.0000 

91 ............................................................. 0.17401 0.17401 1.0000 0.13818 0.13818 1.0000 

92 ............................................................. 0.19151 0.19151 1.0000 0.15250 0.15250 1.0000 

93 ............................................................. 0.20936 0.20936 1.0000 0.16737 0.16737 1.0000 

94 ............................................................. 0.22742 0.22742 1.0000 0.18274 0.18274 1.0000 

95 ............................................................. 0.24569 0.24569 1.0000 0.19863 0.19863 1.0000 

96 ............................................................. 0.26415 0.26415 1.0000 0.21509 0.21509 1.0000 

97 ............................................................. 0.28281 0.28281 1.0000 0.23214 0.23214 1.0000 

98 ............................................................. 0.30169 0.30169 1.0000 0.24983 0.24983 1.0000 

99 ............................................................. 0.32077 0.32077 1.0000 0.26814 0.26814 1.0000 

100 ........................................................... 0.33996 0.33996 1.0000 0.28698 0.28698 1.0000 

101 ........................................................... 0.35910 0.35910 1.0000 0.30619 0.30619 1.0000 

102 ........................................................... 0.37794 0.37794 1.0000 0.32549 0.32549 1.0000 

103 ........................................................... 0.39633 0.39633 1.0000 0.34472 0.34472 1.0000 

104 ........................................................... 0.41415 0.41415 1.0000 0.36375 0.36375 1.0000 

105 ........................................................... 0.43131 0.43131 1.0000 0.38243 0.38243 1.0000 

106 ........................................................... 0.44771 0.44771 1.0000 0.40065 0.40065 1.0000 

107 ........................................................... 0.46329 0.46329 1.0000 0.41828 0.41828 1.0000 

108 ........................................................... 0.47800 0.47800 1.0000 0.43522 0.43522 1.0000 

109 ........................................................... 0.49181 0.49181 1.0000 0.45139 0.45139 1.0000 

110 ........................................................... 0.50000 0.50000 1.0000 0.46673 0.46673 1.0000 

111 ........................................................... 0.50000 0.50000 1.0000 0.48120 0.48120 1.0000 

112 ........................................................... 0.50000 0.50000 1.0000 0.49477 0.49477 1.0000 

113 ........................................................... 0.50000 0.50000 1.0000 0.50000 0.50000 1.0000 

114 ........................................................... 0.50000 0.50000 1.0000 0.50000 0.50000 1.0000 

115 ........................................................... 0.50000 0.50000 1.0000 0.50000 0.50000 1.0000 

116 ........................................................... 0.50000 0.50000 1.0000 0.50000 0.50000 1.0000 

117 ........................................................... 0.50000 0.50000 1.0000 0.50000 0.50000 1.0000 

118 ........................................................... 0.50000 0.50000 1.0000 0.50000 0.50000 1.0000 

119 ........................................................... 0.50000 0.50000 1.0000 0.50000 0.50000 1.0000 

120 ........................................................... 1.00000 1.00000 1.0000 1.00000 1.00000 1.0000 

(e) Static tables for 2024. The 

following static mortality tables are used 

pursuant to paragraph (a)(1)(ii) of this 

section for determining present value or 

making any computation under section 

430 with respect to valuation dates 

occurring during 2024. 

TABLE 3 TO PARAGRAPH (e) 

Age Male Female 

0 ................................ 0.00356 0.00306 

1 ................................ 0.00025 0.00022 

2 ................................ 0.00017 0.00013 

3 ................................ 0.00012 0.00010 

4 ................................ 0.00011 0.00008 

5 ................................ 0.00009 0.00007 

6 ................................ 0.00008 0.00007 

7 ................................ 0.00008 0.00006 

8 ................................ 0.00006 0.00005 

9 ................................ 0.00005 0.00005 

TABLE 3 TO PARAGRAPH (e)— 

Continued 

Age Male Female 

10 .............................. 0.00005 0.00006 

11 .............................. 0.00005 0.00006 

12 .............................. 0.00008 0.00006 

13 .............................. 0.00010 0.00008 

14 .............................. 0.00013 0.00008 

15 .............................. 0.00017 0.00008 

16 .............................. 0.00021 0.00009 

17 .............................. 0.00025 0.00010 

18 .............................. 0.00029 0.00010 

19 .............................. 0.00034 0.00010 

20 .............................. 0.00036 0.00010 

21 .............................. 0.00037 0.00010 

22 .............................. 0.00037 0.00011 

23 .............................. 0.00038 0.00013 

24 .............................. 0.00039 0.00014 

25 .............................. 0.00040 0.00014 

26 .............................. 0.00041 0.00015 

27 .............................. 0.00043 0.00016 

TABLE 3 TO PARAGRAPH (e)— 

Continued 

Age Male Female 

28 .............................. 0.00044 0.00016 

29 .............................. 0.00046 0.00017 

30 .............................. 0.00049 0.00018 

31 .............................. 0.00050 0.00019 

32 .............................. 0.00053 0.00021 

33 .............................. 0.00056 0.00023 

34 .............................. 0.00059 0.00024 

35 .............................. 0.00062 0.00026 

36 .............................. 0.00065 0.00029 

37 .............................. 0.00067 0.00031 

38 .............................. 0.00070 0.00032 

39 .............................. 0.00072 0.00035 

40 .............................. 0.00074 0.00037 

41 .............................. 0.00075 0.00039 

42 .............................. 0.00077 0.00041 

43 .............................. 0.00079 0.00043 

44 .............................. 0.00081 0.00045 

45 .............................. 0.00084 0.00048 


ddrumheller on DSK120RN23PROD with RULES1
72366 Federal Register / Vol. 88, No. 202 / Friday, October 20, 2023 / Rules and Regulations 

TABLE 3 TO PARAGRAPH (e)— 

Continued 

Age Male Female 

46 .............................. 0.00088 0.00051 

47 .............................. 0.00092 0.00055 

48 .............................. 0.00098 0.00059 

49 .............................. 0.00104 0.00064 

50 .............................. 0.00113 0.00070 

51 .............................. 0.00124 0.00080 

52 .............................. 0.00137 0.00090 

53 .............................. 0.00153 0.00101 

54 .............................. 0.00173 0.00115 

55 .............................. 0.00206 0.00138 

56 .............................. 0.00253 0.00170 

57 .............................. 0.00296 0.00195 

58 .............................. 0.00344 0.00225 

59 .............................. 0.00397 0.00258 

60 .............................. 0.00458 0.00299 

61 .............................. 0.00523 0.00343 

62 .............................. 0.00615 0.00409 

63 .............................. 0.00703 0.00478 

64 .............................. 0.00774 0.00537 

65 .............................. 0.00861 0.00619 

66 .............................. 0.00957 0.00707 

67 .............................. 0.01054 0.00786 

68 .............................. 0.01163 0.00871 

69 .............................. 0.01283 0.00968 

70 .............................. 0.01419 0.01082 

71 .............................. 0.01575 0.01217 

72 .............................. 0.01750 0.01368 

73 .............................. 0.01949 0.01540 

74 .............................. 0.02175 0.01742 

75 .............................. 0.02433 0.01975 

76 .............................. 0.02729 0.02240 

77 .............................. 0.03069 0.02540 

78 .............................. 0.03460 0.02878 

79 .............................. 0.03912 0.03254 

80 .............................. 0.04442 0.03715 

81 .............................. 0.05008 0.04158 

82 .............................. 0.05649 0.04650 

83 .............................. 0.06372 0.05202 

84 .............................. 0.07192 0.05823 

85 .............................. 0.08126 0.06527 

86 .............................. 0.09180 0.07337 

87 .............................. 0.10364 0.08255 

88 .............................. 0.11688 0.09305 

89 .............................. 0.13148 0.10480 

90 .............................. 0.14733 0.11790 

91 .............................. 0.16404 0.13141 

92 .............................. 0.18111 0.14547 

93 .............................. 0.19847 0.16007 

94 .............................. 0.21588 0.17495 

95 .............................. 0.23319 0.19020 

96 .............................. 0.25152 0.20655 

97 .............................. 0.27010 0.22354 

98 .............................. 0.28899 0.24127 

99 .............................. 0.30836 0.25965 

100 ............................ 0.32788 0.27862 

101 ............................ 0.34742 0.29799 

102 ............................ 0.36672 0.31750 

103 ............................ 0.38574 0.33705 

104 ............................ 0.40436 0.35650 

105 ............................ 0.42191 0.37576 

106 ............................ 0.43897 0.39452 

107 ............................ 0.45520 0.41279 

108 ............................ 0.47064 0.43024 

109 ............................ 0.48536 0.44694 

110 ............................ 0.49448 0.46282 

111 ............................ 0.49552 0.47794 

112 ............................ 0.49656 0.49215 

113 ............................ 0.49756 0.49820 

114 ............................ 0.49870 0.49900 

115 ............................ 0.49975 0.49980 

116 ............................ 0.49990 0.49990 

TABLE 3 TO PARAGRAPH (e)— 

Continued 

Age Male Female 

117 ............................ 0.49995 0.50000 

118 ............................ 0.50000 0.50000 

119 ............................ 0.50000 0.50000 

120 ............................ 1.00000 1.00000 

(f) Applicability date. This section 

applies for valuation dates occurring on 

or after January 1, 2024. 

■ Par. 3. Section 1.430(h)(3)–2 is 

amended by: 

■ a. In paragraph (c)(3)(ii) deleting the 

text ‘‘§ 1.430(h)(3)–1(a)(2)(i)(E)’’ and 

adding in its place ‘‘§ 1.430(h)(3)– 

1(b)(2)(ii)’’; 

■ b. Revising paragraph (c)(6)(ii)(E); and 

■ c. In paragraph (d)(4)(iii)(A): 

■ i. Deleting the text ‘‘§ 1.430(h)(3)– 

1(a)(2)(i)(E)’’ and adding in its place 

‘‘§ 1.430(h)(3)–1(b)(2)(ii)’’; 

■ ii. Deleting ‘‘2006’’ and adding in its 

place ‘‘2012’’; and 

■ iii. Deleting the text ‘‘§ 1.430(h)(3)– 

1(a)(2)(i)(C)’’ and adding in its place 

‘‘§ 1.430(h)(3)–1(b)(1)(iii).’’ 

The revision reads as follows: 

§ 1.430(h)(3)–2 Plan-specific substitute 

mortality tables used to determine present 

value. 

* * * * * 

(c) * * * 

(6) * * * 

(ii) * * * 

(E) The date specified in guidance 

published in the Internal Revenue 

Bulletin (see § 601.601(d) of this 

chapter) in conjunction with a 

replacement of mortality tables 

specified under section 430(h)(3)(A) and 

§ 1.430(h)(3)–1 (other than changes to 

the mortality improvement rates under 

§ 1.430(h)(3)–1(b)(1)(iii) or annual 

updates to the static mortality tables 

issued as noted in § 1.430(h)(3)– 

1(c)(1)(iv)). 

* * * * * 

■ Par. 4. Section 1.431(c)(6)–1 is revised 

to read as follows: 

§ 1.431(c)(6)–1 Mortality tables used to 

determine current liability. 

(a) Mortality tables used to determine 

current liability. In accordance with 

section 431(c)(6)(D), the mortality 

assumptions that apply to a singleemployer defined benefit plan for the 

plan year pursuant to section 

430(h)(3)(A) and (D) and §§ 1.430(h)(3)– 

1(a)(1) and (a)(2)(ii) are used to 

determine a multiemployer plan’s 

current liability for purposes of 

applying the rules of section 431(c)(6). 

For purposes of this paragraph (a), 

either the generational mortality tables 

used pursuant to § 1.430(h)(3)–1(b) or 

the static mortality tables used pursuant 

to § 1.430(h)(3)–1(c) are permitted to be 

used without regard to whether the plan 

is a small plan. However, substitute 

mortality tables under §§ 1.430(h)(3)– 

1(a)(2)(i) and 1.430(h)(3)–2 are not 

permitted to be used for purposes of this 

paragraph (a). 

(b) Applicability date. This section 

applies for valuation dates occurring on 

or after January 1, 2024. 

■ Par. 5. Section 1.433(h)(3)–1 is 

revised to read as follows: 

§ 1.433(h)(3)–1 Mortality tables used to 

determine current liability. 

(a) Mortality tables used to determine 

current liability. In accordance with 

section 433(h)(3)(B), the mortality 

assumptions that apply to a singleemployer defined benefit plan for the 

plan year pursuant to section 

430(h)(3)(A) and (D) and §§ 1.430(h)(3)– 

1(a)(1) and (a)(2)(ii) are used to 

determine a cooperative and small 

employer charity (CSEC) plan’s current 

liability under section 433(h). For 

purposes of this paragraph (a), either the 

generational mortality tables used 

pursuant to § 1.430(h)(3)–1(b) or the 

static mortality tables used pursuant to 

§ 1.430(h)(3)–1(c) are permitted to be 

used without regard to whether the plan 

is a small plan as defined in 

§ 1.430(h)(3)–1(c)(1)(ii). However, 

substitute mortality tables under 

§§ 1.430(h)(3)–1(a)(2)(i) and 1.430(h)(3)– 

2 are not permitted to be used for 

purposes of this paragraph (a). 

(b) Applicability date. This section 

applies for valuation dates occurring on 

or after January 1, 2024. 

Douglas W. O’Donnell, 

Deputy Commissioner for Services and 

Enforcement. 

Approved: October 4, 2023. 

Lily L. Batchelder, 

Assistant Secretary of the Treasury (Tax 

Policy). 

[FR Doc. 2023–23267 Filed 10–19–23; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 300 

[TD 9982] 

RIN 1545–BQ26 

User Fees Relating to Enrolled 

Actuaries 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 


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