IRS Mortality Tales

[Gary]

It is my understanding that the IRS has finalized the IRS mortality table. Perhaps it is also referred to as the applicable mortality table.

It appears to me that this table is required for funding under 430, lump sums under 417e and maybe current liability purposes too.

I will review the regs.

What about 415?

That is, does the new mortality table apply to actuarial equivalence under 415 for benefits commencing before age 62? And for 415 lump sums? Or is it still GAR94?

Thanks.

[tymesup]

From Actuarial Outpost:

http://www.actuarialoutpost.com/actuarial_...p;highlight=415

[Gary]

Regarding Tymesup's link, his entire link stresses that for adjustments under 415, GAR94 still applies.

However, in his very last post, the last paragraph now seems to indicate that the mortality table to be used for adjustments under 415 is the same one as the one used under 417e; meaning NOT to use GAR94.

So what is the conclusion regarding the above?

Of course GAR94 is a unisex table.

The new tables in the IRS final regulations that I have come across for funding seem to have different tables for males and females. So I don't see how this could be used for lump sums or 415 adjustments.

I'll search again, but that leaves me with the additional question: What is the mortality table that applies under 417e (after GAR94)?

Thanks.

[Blinky the 3-eyed Fish]

Still 94 GAR. I don't know if the different technical corrections bills in both the House and Senate make the change.

[tymesup]

Darned if this exact question didn't come up at our office this afternoon. COPA threads after the earlier AO thread echo that GAR 94 is still the table for 415.

[Gary]

Thanks so much.

I did print out the rev ruling re: the 417e table. I'll check it out.

I am surprised that there are different tables for 415 and 417e.

And I presume yet other tables for CL and 430.

I'm now getting prepared to start the 2008 vals.

[tymesup]

It's like a giant game of Simon Says.

[SoCalActuary]

Thanks so much.

I did print out the rev ruling re: the 417e table. I'll check it out.

I am surprised that there are different tables for 415 and 417e.

And I presume yet other tables for CL and 430.

I'm now getting prepared to start the 2008 vals.

So you now have 13 days to get your 1-1-08 valuations done, based on the interest rate method your client has already elected. Good luck!

The tables for CL are not used anymore. The tables for 436 and 430 concerning the Funding Target are the same.

To 3-eye, yes the Tech Corrections bills do allow the 415 limit table to be updated for the latest 417(e) rates.