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IRS Delay in Implementing New Mortality Tables Affects Pension Liability Valuation
HR Daily Advisor Link to more items from this source
July 6, 2017

"Sponsors should expect to see their IRS funded status decline in 2018 to roughly the same amount as they saw their accounting funded status decline when RP-2014 was first used on their financial statements ... [P]lan sponsors can expect a 'double whammy' in 2018 as a result of variable-rate PBGC premiums. They will face both higher rates per $1,000 of underfunding from the previous legislation and new, greater levels of underfunding due to the IRS adopting the new mortality tables ... [T]he reality of increased longevity and longer-term retirements may lead some employees to work beyond a pension plan's 'normal retirement age,' offsetting somewhat the increased liabilities brought about by the latest mortality assumptions."

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