Notice 2022-22: Mortality rates, tables for defined benefit pension plans (2023)

Determining present value and making any other computation under section 430 for valuation dates occurring during the 2023 calendar year

Notice 2022-22: Mortality rates, tables for defined benefit pension plans (2023)

The IRS today released an advance version of Notice 2022-22 that specifies updated mortality improvement rates and static mortality tables to be used for qualified retirement plans that are defined benefit pension plans under section 430(h)(3)(A) and under provisions of the Employee Retirement Income Security Act of 1974 (ERISA). These updated mortality improvement rates and static tables apply for purposes of determining present value and making any other computation under section 430 for valuation dates occurring during the 2023 calendar year.

Notice 2022-22 [PDF 236 KB] also includes a modified unisex version of the mortality tables for use in determining minimum present value under section 417(e)(3) of the Code and section 205(g)(3) of ERISA for distributions with annuity starting dates that occur during stability periods beginning in the 2023 calendar year.

 

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