On October 3, 2017, the IRS issued final regulations updating the mortality tables that most defined benefit pension plan sponsors must use when calculating lump-sum benefits for participants and determining annual funding obligations. In addition, the final regulations provide updated procedures for sponsors of large defined benefit plans to use when applying to the IRS to use substitute mortality tables based on actual plan mortality experience. In conjunction with the regulations, the IRS issued Notice 2017-60, which explains the new mortality tables, and Revenue Procedure 2017-55, which explains and supplements the changes to the requirements for using substitute mortality tables. The regulations apply to plan years beginning on and after January 1, 2018.

The final regulations are available here.

Notice 2017-60 is available here.

Rev. Proc. 2017-55 is available here.