mwyatt Posted January 16, 2024 Posted January 16, 2024 Confused here, IRS notices 2023-66, -72, -76, and 2024-04 showed 2024 ARPA Segment rates as 4.75%, 4.87%, and 5.59%. Now IR Notice 2024-21 has 2024 ARPA Segment rates as 4.75%, 4.96% (instead of 4.87%), and 5.59%. Note that they show the January 2024 segment rates as 4.37%, 4.96%, and 4.95%. Did just leave a voice message with the IRS to figure out if they have a typo on 2024-21. Holding off on doing 2024 valuations for now.
C. B. Zeller Posted January 16, 2024 Posted January 16, 2024 I believe 4.96% is correct. The 25-year average for the second segment as of September 2023 was 5.13% (Notice 2023-66). That gives us a 95-105% corridor of 4.87-5.39%. The actual 24-month average of 4.96% for January 2024 falls within that corridor, so it is not adjusted. Hojo and Effen 2 Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co
mwyatt Posted January 16, 2024 Author Posted January 16, 2024 Yes, ASC has 4.96%, Mike Preston's PPA Pro has 4.87%.
Effen Posted January 16, 2024 Posted January 16, 2024 I believe what C.B. Zeller said is correct. s/b 4.96% The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
drakecohen Posted January 18, 2024 Posted January 18, 2024 irs.gov still has 4.86: https://www.irs.gov/retirement-plans/pension-plan-funding-segment-rates but they do not have the January, 2024 rates up yet so maybe it will go to 4.97% when this link is updated.
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