IRS Proposes Update to Mortality Tables Used for DB Plans

The Department of Treasury and Internal Revenue Service have released proposed regulations to update the mortality tables that are used to calculate minimum required contributions for single-employer defined benefit pension plans. The regulations are proposed to be first effective for plan years beginning in 2023.

Comments must be received by June 9, 2022. A public hearing on these proposed regulations has been scheduled for June 28, 2022. The regulations will be reviewed, and additional details provided as warranted.