[Federal Register: December 2, 2005 (Volume 70, Number 231)]
[Proposed Rules]
[Page 72260-72268]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr02de05-9]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG-124988-05]
RIN 1545-BE72
Updated Mortality Tables for Determining Current Liability
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice of proposed rulemaking and notice of public hearing.
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SUMMARY: This document contains proposed regulations under section
412(l)(7)(C)(ii) of the Internal Revenue Code (Code) and section
302(d)(7)(C)(ii) of the Employee Retirement Income Security Act of 1974
(ERISA) (Pub. L. 93-406, 88 Stat. 829). These regulations provide the
public with guidance regarding mortality tables to be used in
determining current liability under section 412(l)(7) of the Code and
section 302(d)(7) of ERISA. These regulations affect plan sponsors and
administrators, and participants in and beneficiaries of, certain
retirement plans.
DATES: Written or electronic comments and requests to speak and
outlines of topics to be discussed at the public hearing scheduled for
April 19, 2006, at 10 a.m., must be received by March 29, 2006.
ADDRESSES: Send submissions to: CC:PA:LPD:PR (REG-124988-05), room
5226, Internal Revenue Service, POB 7604, Ben Franklin Station,
Washington, DC 20044. Submissions may be hand-delivered Monday through
Friday between the hours of 8 a.m. and 4 p.m. to: CC:PA:LPD:PR (REG-
124988-05), Courier's Desk, Internal Revenue Service, 1111 Constitution
Avenue, NW., Washington, DC. Alternatively, taxpayers may submit
comments electronically directly to the IRS Internet site at http://www.irs.gov/regs.
The public hearing will be held in the Auditorium,
Internal Revenue Building, 1111 Constitution Avenue, NW., Washington,
DC.
FOR FURTHER INFORMATION CONTACT: Concerning the regulations, Bruce
Perlin or Linda Marshall at (202) 622-6090 (not a toll-free number);
concerning submissions and the hearing and/or to be placed on the
building access list to attend the hearing, Treena Garrett at (202)
622-7180 (not toll-free numbers).
SUPPLEMENTARY INFORMATION:
Background
Section 412 of the Internal Revenue Code provides minimum funding
requirements with respect to certain defined benefit pension plans.\1\
Section 412(l) provides additional funding requirements for certain of
these plans, based in part on a plan's unfunded current liability, as
defined in section 412(l)(8).
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\1\ Section 302 of ERISA sets forth funding rules that are
parallel to those in section 412 of the Code. Under section 101 of
Reorganization Plan No. 4 of 1978 (43 FR 47713) and section 302 of
ERISA, the Secretary of the Treasury has interpretive jurisdiction
over the subject matter addressed in these proposed regulations for
ERISA, as well as the Code. Thus, these proposed Treasury
regulations issued under section 412 of the Code apply as well for
purposes of section 302 of ERISA.
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Pursuant to section 412(c)(6), if the otherwise applicable minimum
funding requirement exceeds the plan's full funding limitation (defined
in section 412(c)(7) as the excess of a specified measure of plan
liability over the plan assets), then the minimum funding for
[[Page 72261]]
the year is reduced by that excess. Under section 412(c)(7)(E), the
full funding limitation cannot be less than the excess of 90% of the
plan's current liability (including the expected increase in current
liability due to benefits accruing during the plan year) over the value
of the plan's assets. For this purpose, the term current liability
generally has the same meaning given that term under section 412(l)(7).
Section 412(l)(7)(C)(ii) provides that, for purposes of determining
current liability in plan years beginning on or after January 1, 1995,
the mortality table used is the table prescribed by the Secretary.
Under section 412(l)(7)(C)(ii)(I), the initial mortality table used in
determining current liability under section 412(l)(7) must be based on
the prevailing commissioners' standard table (described in section
807(d)(5)(A)) used to determine reserves for group annuity contracts
issued on January 1, 1993. For purposes of section 807(d)(5), Rev. Rul.
92-19 (1992-1 C.B. 227) specifies the prevailing commissioners'
standard table used to determine reserves for group annuity contracts
issued on January 1, 1993, as the 1983 Group Annuity Mortality Table
(1983 GAM). Accordingly, Rev. Rul. 95-28 (1995-1 C.B. 74) sets forth
two gender-specific mortality tables--based on 1983 GAM--for purposes
of detemining current liability for partcipants who are not entitled to
disability benefits.\2\
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\2\ Section 417(e)(3)(A)(ii)(I) requires the present value of
certain distributions to be determined using a table prescribed by
the Secretary based on the prevailing commissioners' standard table
(described in section 807(d)(5)(A)) used to determine reserves for
group annuity contracts issued on the date as of which present value
is being determined. Thus, in contrast to the mortality table
initially prescribed for determining current liability under section
412(l)(7)(C)(ii)(I), the mortality table used to determine present
value under section 417(e)(3)(A)(ii)(I) is not fixed as of a
specified date but, rather, must be updated when the prevailing
commissioner's standard table changes. Rev. Rul. 95-6 (1995-1 C.B.
80) set forth tables under section 417(e)(3)(A)(ii)(I) based on 1983
GAM, which was the prevailing commissioner's standard table at that
time. The 1994 Group Annuity Reserving Table became the prevailing
commissioners' standard table under section 807(d)(5)(A) for
annuities issued on or after January 1, 1999. See Rev. Rul. 2001-38
(2001-2 C.B. 124). Accordingly, Rev. Rul. 2001-62 (2001-2 C.B. 632)
required plans to adopt a new mortality table (based on the 1994
Group Annuity Reserving Table) for calculating the minimum present
value of distributions pursuant to section 417(e).
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Section 412(l)(7)(C)(iii)(I) specifies that the Secretary is to
establish different mortality tables to be used to determine current
liability for individuals who are entitled to benefits under the plan
on account of disability. One such set of tables is to apply to
individuals whose disabilities occur in plan years beginning before
January 1, 1995, and a second set of tables for individuals whose
disabilities occur in plan years beginning on or after such date. Under
section 412(l)(7)(C)(iii)(II), the separate tables for disabilities
that occur in plan years beginning after December 31, 1994 apply only
with respect to individuals who are disabled within the meaning of
title II of the Social Security Act and the regulations thereunder.
Rev. Rul. 96-7 (1996-1 C.B. 59) sets forth the mortality tables
established under section 412(l)(7)(C)(iii).
Under section 412(l)(7)(C)(ii)(III), the Secretary of the Treasury
is required to periodically (at least every 5 years) review any tables
in effect under that subsection and, to the extent necessary, by
regulation update the tables to reflect the actual experience of
pension plans and projected trends in such experience. Section
412(l)(7)(C)(ii)(II) provides that the updated tables are to take into
account the results of available independent studies of mortality of
individuals covered by pension plans. Pursuant to section
412(l)(7)(C)(ii)(II), any new mortality tables prescribed by regulation
can be effective no earlier than the first plan year beginning after
December 31, 1999. Under section 412(l)(10), increases in current
liability arising from the adoption of such a new mortality table
generally are required to be amortized over a 10-year period.
In order to facilitate the review of the applicable mortality
tables pursuant to section 412(l)(7)(C)(ii)(III), Rev. Rul. 95-28
requested comments concerning the mortality table to be used for
determining current liability for plan years beginning after December
31, 1999, and information on existing or upcoming independent studies
of mortality of individuals covered by pension plans. In Announcement
2000-7 (2000-1 C.B. 586), the IRS and the Treasury Department also
requested comments regarding mortality tables to be used for
determining current liability for plan years beginning after December
31, 1999, but indicated that it was anticipated that in no event would
there be any change in the mortality tables for plan years beginning
before January 1, 2001.
Notice 2003-62 (2003-2 C.B. 576) was issued as part of the periodic
review by the IRS and the Treasury Department of the mortality tables
used in determining current liability under section 412(l)(7). At the
time the Notice 2003-62 was issued, the IRS and the Treasury Department
were aware of two reviews of mortality experience for retirement plan
participants undertaken by the Retirement Plans Experience Committee of
the Society of Actuaries (the UP-94 Study and the RP-2000 Mortality
Tables Report),\3\ and commentators were invited to submit any other
independent studies of pension plan mortality experience. Notice 2003-
62 also requested the submission of studies regarding projected trends
in mortality experience. With respect to projecting mortality
improvements, the IRS and the Treasury Department requested comments
regarding the advantages and disadvantages of reflecting these trends
on an ongoing basis through the use of generational, modified
generational, or sequentially static mortality tables.
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\3\ The UP-94 Study, prepared by the UP-84 Task Force of the
Society of Actuaries, was published in the Transactions of the
Society of Actuaries, Vol. XLVII (1995), p. 819. The RP-2000
Mortality Table Report was released in July, 2000. Society of
Actuaries, RP-2000 Mortaality Tables Report, at http://www.soa.org/ccm/content/research-publications/experience-studies-tools/the-rp-2000-mortality-tables/
.
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In addition, Notice 2003-62 requested comments on whether certain
risk factors should be taken into account in predicting an individual's
mortality. Comments were requested as to the extent that separate
mortality tables should be prescribed that take into account these
factors, with particular attention paid to the administrative issues in
applying such distinctions. In this regard, comments were specifically
requested as to how it would be determined which category an individual
fits into, the extent to which an individual, once categorized, remains
in that same category, the classification of individuals for whom
adequate information is unavailable, whether distinctions are
applicable to beneficiaries, and the extent to which distinctions may
overlap or work at cross purposes. Some examples of factors that were
listed in Notice 2003-62 are the following: gender, tobacco use, job
classification, annuity size, and income. Comments were also requested
as to whether classification systems, if permitted, should be mandatory
or optional. A number of comments were submitted regarding the issues
identified in Notice 2003-62.
The IRS and the Treasury Department have reviewed the mortality
tables that are used for purposes of determining current liability for
participants and beneficiaries (other than disabled participants). The
existing mortality table for determining current liability (1983 GAM)
was compared to independent studies of mortality of individuals covered
by pension plans, after reflecting projected trends for mortality
improvement through 2007. The comparison indicates that the 1983
[[Page 72262]]
GAM is no longer appropriate for determining current liability. For
example, comparing the RP-2000 Combined Healthy Mortality Table for
males projected to 2007 (when this proposed regulation would take
effect) with the 1983 GAM shows that a current mortality table reflects
a 52% decrease in the number of expected deaths at age 50, a 26%
decrease at 65, and an 19% decrease at age 80. Comparing annuity values
derived under these updated mortality rates with annuity values
determined under the 1983 GAM shows an increase in present value of 12%
for a 35-year-old male with a deferred annuity payable at age 65, a 5%
increase for a 55-year-old male with an immediate annuity, and a 7%
increase for a 75-year-old male with an immediate annuity (all
calculated at a 6% interest rate). Female mortality rates also changed,
although with a different pattern. For females, the number of expected
deaths decreased by 10% at age 50, but increased by 33% at age 65 and
increased by 2% at age 80.\4\ Comparing annuity values derived under
these updated mortality rates with annuity values determined under the
1983 GAM shows a decrease in present value of 3% for a 35-year-old
female with a deferred annuity payable at age 65, a 2% decrease for a
55-year-old female with an immediate annuity, and a 2% decrease for a
75-year-old female with an immediate annuity (all calculated at a 6%
interest rate).
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\4\ The developers of the 1983 GAM table acknowledged that the
number of female lives used to develop the table had been relatively
small and they recommended an age setback to the male table be used
rather than a separate female table. See Development of the 1983
Group Annuity Mortality Table, Transaction of the Society of
Actuaries, Vol. XXXV (1983), pp. 859, 883-84.
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Based on this review of the 1983 GAM compared to more recent
mortality experience, the IRS and Treasury Department have determined
that updated mortality tables should be used to determine current
liability for participants and beneficiaries (other than disabled
participants).\5\
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\5\ The IRS and Treasury are in the process of reviewing recent
mortality experience and expected trends for disabled participants
to determine whether updated mortality tables under section
412(l)(7)(C)(iii) are needed.
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Explanation of Provisions
The proposed regulations would set forth the methodology the IRS
and Treasury would use to establish mortality tables to be used under
section 412(l)(7)(C)(ii) to determine current liability for
participants and beneficiaries (other than disabled participants). The
mortality tables that would apply for the 2007 plan year are set forth
in the proposed regulations. The mortality tables that would be used
for subsequent plan years would be published in the Internal Revenue
Bulletin. Comments are requested regarding whether it would be
desirable to publish a series of tables for each of a number of years
(such as five years) along with final regulations, with tables for
subsequent years to be published in the Internal Revenue Bulletin.
These new mortality tables would be based on the tables contained
in the RP-2000 Mortality Tables Report. Commentators generally
recommended that the RP-2000 mortality tables be the basis for the
mortality tables used under section 412(l)(7)(C)(ii) (although one
commentator urged that large employers be permitted to use mortality
tables tailored to their actual mortality experience). The IRS and the
Treasury Department have reviewed the RP-2000 mortality tables and the
accompanying report published by the Society of Actuaries, and have
determined that the RP-2000 mortality tables form the best available
basis for predicting mortality of pension plan participants and
beneficiaries (other than disabled participants) based on pension plan
experience and expected trends. Accordingly, the proposed regulations
would change the mortality tables used to determine current liability
from tables based on 1983 GAM to updated tables based on the RP-2000
mortality tables. As under the currently applicable mortality tables,
the mortality tables set forth in these proposed regulations are
gender-distinct because of significant differences between expected
male mortality and expected female mortality.
The proposed regulations would provide for separate sets of tables
for annuitants and nonannuitants. This distinction has been made
because the RP-2000 Mortality Tables Report indicates that these two
groups have significantly different mortality experience. This is
particularly true at typical ages for early retirees, where the number
of health-induced early retirements results in a population that has
higher mortality rates than the population of currently employed
individuals. Under the proposed regulations, the annuitant mortality
table would be applied to determine the present value of benefits for
each annuitant. The annuitant mortality table is also used for each
nonannuitant (i.e., an active employee or a terminated vested
participant) for the period after which the nonannuitant is projected
to commence receiving benefits, while the nonannuitant mortality table
is applied for the period before the nonannuitant is projected to
commence receiving benefits. Thus, for example, with respect to a 45-
year-old active participant who is projected to commence receiving an
annuity at age 55, current liability would be determined using the
nonannuitant mortality table for the period before the participant
attains age 55 (i.e., so that the probability of an active male
participant living from age 45 to the age of 55 using the mortality
table that would apply in 2007 is 98.59%) and the annuitant mortality
table after the participant attains age 55. Similarly, if a 45-year-old
terminated vested participant is projected to commence an annuity at
age 65, current liability would be determined using the nonannuitant
mortality table for the period before the participant attains age 65
and the annuitant mortality table for ages 65 and above.
The mortality tables that would be established pursuant to this
regulation would be based on mortality improvements through the year of
the actuarial valuation and would reflect the impact of further
expected improvements in mortality. Commentators generally stated that
the projection of mortality improvement is desirable because it
reflects expected mortality more accurately than using mortality tables
that do not reflect such projection. The IRS and Treasury agree with
these comments, and believe that failing to project mortality
improvement in determining current liability would tend to leave plans
underfunded. The regulations would specify the projection factors that
are to be used to calculate expected mortality improvement. These
projection factors are from Mortality Projection Scale AA, which was
also recommended for use in the UP-94 Study and RP-2000 Mortality
Tables Report. The mortality tables for annuitants are generally based
on a future projection period of 7 years, and the mortality tables for
nonannuitants are generally based on a future projection period of 15
years. These projection periods were selected as the expected average
duration of liabilities and are consistent with projection periods
suggested by commentators.
The RP-2000 Mortality Tables Report did not develop mortality rates
for annuitants younger than 50 years of age or for nonannuitants older
than 70 years of age. The mortality tables for annuitants use the
values that apply for the nonannuitant mortality tables at younger
ages, with a smoothed transition to the annuitant mortality tables by
age 50. Similarly, the mortality tables for both male and female
nonannuitants use the values that apply
[[Page 72263]]
for the annuitant mortality tables at older ages (i.e., ages above 70),
with a smoothed transition to the nonannuitant mortality tables by age
70.
The mortality tables for annuitants applicable for the 2007 plan
year would use the values that apply for the nonannuitant mortality
tables at ages 40 and younger for males and at ages 44 and younger for
females with a smoothed transition to the annuitant mortality tables
between the ages of 41 and 49 for males and between 45 and 49 for
females. Similarly, the mortality tables for both male and female
nonannuitants applicable for the 2007 plan year use the values that
apply for the annuitant mortality tables at ages 80 and older, with a
smoothed transition to the nonannuitant mortality tables between the
ages of 71 and 79.
The proposed regulations would provide an option for smaller plans
(i.e., plans where the total of active and inactive participants is
less than 500) to use a single blended table for all healthy
participants--in lieu of the separate tables for annuitants and
nonannuitants--in order to simplify the actuarial valuation for these
plans. This blended table would be constructed from the separate
nonannuitant and annuitant tables using the nonannuitant/annuitant
weighting factors published in the RP-2000 Mortality Tables Report.
However, because the RP-2000 Mortality Tables Report does not provide
weighting factors before age 50 or after age 70, the IRS and the
Treasury Department would extend the table of weighting factors for
ages 41 through 50 (ages 45-50 for females) and for ages 70 through 79
in order to develop the blended table.
The proposed regulations do not provide for the use of generational
mortality tables to compute a plan's current liability. Although
commentators generally stated that the use of generational mortality
tables provides a more accurate prediction of participant mortality,
they urged against requiring the use of generational mortality tables,
arguing that many actuarial valuation systems are not currently capable
of using a generational approach to mortality improvement. However,
several commentators requested that the use of generational mortality
tables be permitted on an optional basis. The IRS and the Treasury
Department agree that the use of generational mortality tables would be
preferable, but believe that the approach taken in the proposed
regulations (i.e., projecting liabilities for annuitants and
nonannuitants to average expected duration) is appropriate because it
reasonably approximates the use of generational tables without being
overly complex to apply. In light of several comments requesting that
the use of generational tables be optional, the IRS and the Treasury
Department are considering adopting such a rule and request comments
regarding any issues that might arise in implementing an optional use
of a generational table. In addition, comments are requested regarding
how much lead time would be appropriate if generational mortality
tables were to be required in the future.
The RP-2000 mortality tables and the accompanying report analyze
differences in expected mortality based on a number of factors,
including job classification, annuity size, employment status (i.e.,
active or retired), and industry. The IRS and the Treasury Department
have considered whether separate mortality tables should be provided
based on any of these distinctions, or on other distinctions cited in
Notice 2003-62, such as tobacco use or income level. The IRS and the
Treasury Department have concluded that it is inappropriate to apply
distinctions other than the annuitant and nonannuitant distinction
described above. In general, these other distinctions were not made
because of the complexity involved in the process. For example, no
distinction was made for tobacco use because of the difficulty in
obtaining, maintaining, and documenting accurate data on the extent of
tobacco use.
Although several commentators recommended that separate mortality
tables apply to plans that are determined to be ``white collar'' or
``blue collar'' in nature, the IRS and Treasury have not adopted this
recommendation because of serious administrability concerns.
Commentators recognized that it may be difficult to identify whether a
specific individual falls into the category of blue collar or white
collar (especially if an individual has shifted job classifications
during his or her career), and suggested that the classification be
based on whether the plan is primarily composed of blue collar
employees or white collar employees or whether a plan covers a mixed
population of blue collar and white collar employees. While the plan-
wide classification may avoid the difficulties of categorizing those
individuals who are hard to classify as either blue collar or white
collar, it would create additional problems if a plan shifted between
these categories.
More importantly, the RP-2000 Mortality Tables Report indicates
that plans that are primarily blue collar in nature, but that provide
large annuities, tend to have significantly better mortality experience
than the average mortality for individuals in the RP-2000 Mortality
Tables Report. As a result, classifying such a plan as blue collar and
allowing the plan to use a weaker mortality table will lead to
systematic underfunding of the plan.\6\ Other concerns weighing against
the use of separate tables for blue collar and white collar plans
include the risk of anti-selection by plans in the absence of mandatory
adjustments and the lack of research showing the extent to which any
mortality differences attributable to blue collar or white collar
status extend to beneficiaries of the plan.
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\6\ Although some commentators suggested addressing this problem
by treating some highly compensated union employees as if they were
white collar workers, the developers of the RP-2000 Mortality Tables
Report (and the researchers they hired to apply a multivariate
analysis of the data) were unable to find a practical model to apply
the combined effect of collar and annuity amount on mortality.
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As noted above, the mortality experience is significantly different
for annuitants and nonannuitants. While the use of separate mortality
rates for these groups of individuals will likely entail changes in
programming of actuarial software, the IRS and Treasury believe that
the improvement in accuracy resulting from the the use of separate
mortality tables for annuitants and nonannuitants more than offsets the
added complexity. Furthermore, the annutant/nonannuitant distinction
does not have the same difficult administrative issues as separate
tables based on collar type, annuity size, or tobacco. This is because
it is usually a straightforward process to categorize an individual as
an annuitant or a nonannuitant, and once an indvidual is categorized as
an annuitant, the individual's status usually does not change again.
Proposed Effective Date
These regulations are proposed to apply to plan years beginning on
or after January 1, 2007.
Special Analyses
It has been determined that this notice of proposed rulemaking is
not a significant regulatory action as defined in Executive Order
12866. Therefore, a regulatory assessment is not required. It is hereby
certified that these regulations will not have a significant economic
impact on a substantial number of small entities. This certification is
based upon the fact that these regulations provide for special rules to
simplify the application of these regulations by actuaries who provide
services for small entities. Therefore, a Regulatory Flexibility
Analysis under the
[[Page 72264]]
Regulatory Flexibility Act (5 U.S.C. chapter 6) is not required.
Pursuant to section 7805(f) of the Code, this notice of proposed
rulemaking will be submitted to the Chief Counsel for Advocacy of the
Small Business Administration for comment on its impact on small
business.
Comments and Public Hearing
Before these proposed regulations are adopted as final regulations,
consideration will be given to any written (a signed original and eight
(8) copies) or electronic comments that are submitted timely to the
IRS. The IRS and Treasury Department specifically request comments on
the clarity of the proposed regulations and how they may be made easier
to understand. All comments will be available for public inspection and
copying.
A public hearing has been scheduled for April 19, 2006, at 10 a.m.
in the auditorium, Internal Revenue Building, 1111 Constitution Avenue,
NW., Washington, DC. Due to building security procedures, visitors must
use the main building entrance on Constitution Avenue. In addition, all
visitors must present photo identification to enter the building.
Because of access restrictions, visitors will not be admitted beyond
the immediate entrance area more than 30 minutes before the hearing
starts. For more information about having your name placed on the list
to attend the hearing, see the FOR FURTHER INFORMATION CONTACT section
of this preamble.
The rules of 26 CFR 601.601(a)(3) apply to the hearing. Persons who
wish to present oral comments at the hearing must submit written
(signed original and eight (8) copies) or electronic comments and an
outline of the topics to be discussed and the time to be devoted to
each topic by March 29, 2006. A period of 10 minutes will be allotted
to each person for making comments. An agenda showing the scheduling of
the speakers will be prepared after the deadline for receiving outlines
has passed. Copies of the agenda will be available free of charge at
the hearing.
Drafting Information
The principal authors of these regulations are Bruce Perlin and
Linda S.F. Marshall, Office of Division Counsel/Associate Chief Counsel
(Tax Exempt and Government Entities). However, other personnel from the
IRS and Treasury participated in the development of these regulations.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
Amendments to the Regulations
Accordingly, 26 CFR part 1 is proposed to be amended as follows:
PART 1--INCOME TAXES
Paragraph 1. The authority citation for part 1 continues to read,
in part, as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 1.412(l)(7)-1 is added to read as follows:
Sec. 1.412(l)(7)-1 Mortality tables used to determine current
liability.
(a) General rules. This section sets forth the basis used to
generate mortality tables to be used in connection with computations
under section 412(l)(7)(C)(ii) for determining current liability for
participants and beneficiaries (other than disabled participants). The
mortality tables, which reflect the probability of death at each age,
that are to be used for plan years beginning during 2007, are provided
in paragraph (e) of this section. The mortality tables to be used for
later plan years are to be provided in guidance published in the
Internal Revenue Bulletin. See Sec. 601.601(d) of this chapter.
(b) Use of the tables--(1) Separate tables for annuitants and
nonannuitants. Separate tables are provided for use by annuitants and
nonannuitants. The annuitant mortality table is applied to determine
the present value of benefits for each annuitant, and to each
nonannuitant for the period after which the nonannuitant is projected
to commence receiving benefits. For purposes of this section, an
annuitant means a plan participant who is currently receiving benefits
and a nonannuitant means a plan participant who is not currently
receiving benefits (e.g., an active employee or a terminated vested
participant). A participant whose benefit has partially commenced is
treated as an annuitant with respect to the portion of the benefit
which has commenced and a nonannuitant with respect to the balance of
the benefit. The nonannuitant mortality table is applied to each
nonannuitant for the period before the nonannuitant is projected to
commence receiving benefits. Thus, for example, with respect to a 45-
year-old active participant who is projected to commence receiving an
annuity at age 55, current liability would be determined using the
nonannuitant mortality table for the period before the participant
attains age 55 (i.e., so that the probability of an active male
participant living from age 45 to the age of 55 for the table that
applies in plan years beginning in 2007 is 98.59%) and the annuitant
mortality table for the period ages 55 and above. Similarly, if a 45-
year-old terminated vested participant is projected to commence an
annuity at age 65, current liability would be determined using the
nonannuitant mortality table for the period before the participant
attains age 65 and the annuitant mortality table for ages 65 and above.
(2) Small plan tables. As an alternative to the separate tables
specified for annuitants and nonannuitants, a small plan can use a
combined table that applies the same mortality rates to both annuitants
and nonannuitants. For this purpose, a small plan is defined as a plan
with fewer than 500 participants (including both active and inactive
participants).
(c) Construction of the tables--(1) Source of basic data. The
mortality tables are based on the separate mortality tables for
employees and healthy annuitants under the RP-2000 Mortality Tables
Report (http://www.soa.org/ccm/content/research-publications/experience-studies-tools/the-rp-2000-mortality-tables/
), as set forth
in paragraph (d) of this section.
(2) Projected mortality improvements. The mortality rates under the
basic mortality tables are projected to improve using Projection Scale
AA, as set forth in paragraph (d) of this section. The annuitant
mortality rates for a plan year are based on applying the improvement
factors from 2000 until 7 years after the plan year. The nonannuitant
mortality rates for a plan year are based on applying the improvement
factors from 2000 until 15 years after the plan year. The projection
scale is applied using the following equation: Projected mortality rate
= base mortality rate * [(1-projection factor)[caret](number of years
projected)].
(3) Treatment of young annuitants and older nonannuitants. The
mortality tables for annuitants use the values that apply for the
nonannuitant mortality tables at younger ages, with a smoothed
transition to the annuitant mortality tables by age 50. Similarly, the
mortality tables for both male and female nonannuitants use the values
that apply for the annuitant mortality tables at older ages (i.e., ages
above 70), with a smoothed transition to the nonannuitant mortality
tables by age 70.
(4) Construction of the combined table for small plans. The
combined table for small plans is constructed from the separate
nonannuitant and annuitant tables using the nonannuitant weighting
[[Page 72265]]
factors as set forth in paragraph (d) of this section. The weighting
factors are applied to develop this table using the following equation:
Combined mortality rate = [non-annuitant rate * (1 - weighting factor)]
+ [annuitant rate * weighting factor].
(d) Tables. As set forth in paragraph (c) of this section, the
following values are used to develop the mortality tables that are used
for determining current liability under section 412(l)(7)(C)(ii) and
this section.
--------------------------------------------------------------------------------------------------------------------------------------------------------
Male Female
--------------------------------------------------------------------------------------------------------
Non- Weighting Non-
Age annuitant Annuitant Projection factors for annuitant Annuitant Projection Weighting
table table scale AA small plans table table scale AA factors for
(year 2000) (year 2000) \7\ \8\ (year 2000) (year 2000) small plans
--------------------------------------------------------------------------------------------------------------------------------------------------------
1.............................................. 0.000637 ........... 0.020 ............ 0.000571 ........... 0.020 ...........
2.............................................. 0.000430 ........... 0.020 ............ 0.000372 ........... 0.020 ...........
3.............................................. 0.000357 ........... 0.020 ............ 0.000278 ........... 0.020 ...........
4.............................................. 0.000278 ........... 0.020 ............ 0.000208 ........... 0.020 ...........
5.............................................. 0.000255 ........... 0.020 ............ 0.000188 ........... 0.020 ...........
6.............................................. 0.000244 ........... 0.020 ............ 0.000176 ........... 0.020 ...........
7.............................................. 0.000234 ........... 0.020 ............ 0.000165 ........... 0.020 ...........
8.............................................. 0.000216 ........... 0.020 ............ 0.000147 ........... 0.020 ...........
9.............................................. 0.000209 ........... 0.020 ............ 0.000140 ........... 0.020 ...........
10............................................. 0.000212 ........... 0.020 ............ 0.000141 ........... 0.020 ...........
11............................................. 0.000219 ........... 0.020 ............ 0.000143 ........... 0.020 ...........
12............................................. 0.000228 ........... 0.020 ............ 0.000148 ........... 0.020 ...........
13............................................. 0.000240 ........... 0.020 ............ 0.000155 ........... 0.020 ...........
14............................................. 0.000254 ........... 0.019 ............ 0.000162 ........... 0.018 ...........
15............................................. 0.000269 ........... 0.019 ............ 0.000170 ........... 0.016 ...........
16............................................. 0.000284 ........... 0.019 ............ 0.000177 ........... 0.015 ...........
17............................................. 0.000301 ........... 0.019 ............ 0.000184 ........... 0.014 ...........
18............................................. 0.000316 ........... 0.019 ............ 0.000188 ........... 0.014 ...........
19............................................. 0.000331 ........... 0.019 ............ 0.000190 ........... 0.015 ...........
20............................................. 0.000345 ........... 0.019 ............ 0.000191 ........... 0.016 ...........
21............................................. 0.000357 ........... 0.018 ............ 0.000192 ........... 0.017 ...........
22............................................. 0.000366 ........... 0.017 ............ 0.000194 ........... 0.017 ...........
23............................................. 0.000373 ........... 0.015 ............ 0.000197 ........... 0.016 ...........
24............................................. 0.000376 ........... 0.013 ............ 0.000201 ........... 0.015 ...........
25............................................. 0.000376 ........... 0.010 ............ 0.000207 ........... 0.014 ...........
26............................................. 0.000378 ........... 0.006 ............ 0.000214 ........... 0.012 ...........
27............................................. 0.000382 ........... 0.005 ............ 0.000223 ........... 0.012 ...........
28............................................. 0.000393 ........... 0.005 ............ 0.000235 ........... 0.012 ...........
29............................................. 0.000412 ........... 0.005 ............ 0.000248 ........... 0.012 ...........
30............................................. 0.000444 ........... 0.005 ............ 0.000264 ........... 0.010 ...........
31............................................. 0.000499 ........... 0.005 ............ 0.000307 ........... 0.008 ...........
32............................................. 0.000562 ........... 0.005 ............ 0.000350 ........... 0.008 ...........
33............................................. 0.000631 ........... 0.005 ............ 0.000394 ........... 0.009 ...........
34............................................. 0.000702 ........... 0.005 ............ 0.000435 ........... 0.010 ...........
35............................................. 0.000773 ........... 0.005 ............ 0.000475 ........... 0.011 ...........
36............................................. 0.000841 ........... 0.005 ............ 0.000514 ........... 0.012 ...........
37............................................. 0.000904 ........... 0.005 ............ 0.000554 ........... 0.013 ...........
38............................................. 0.000964 ........... 0.006 ............ 0.000598 ........... 0.014 ...........
39............................................. 0.001021 ........... 0.007 ............ 0.000648 ........... 0.015 ...........
40............................................. 0.001079 ........... 0.008 ............ 0.000706 ........... 0.015 ...........
41............................................. 0.001142 ........... 0.009 0.0045 0.000774 ........... 0.015 ...........
42............................................. 0.001215 ........... 0.010 0.0091 0.000852 ........... 0.015 ...........
43............................................. 0.001299 ........... 0.011 0.0136 0.000937 ........... 0.015 ...........
44............................................. 0.001397 ........... 0.012 0.0181 0.001029 ........... 0.015 ...........
45............................................. 0.001508 ........... 0.013 0.0226 0.001124 ........... 0.016 0.0084
46............................................. 0.001616 ........... 0.014 0.0272 0.001223 ........... 0.017 0.0167
47............................................. 0.001734 ........... 0.015 0.0317 0.001326 ........... 0.018 0.0251
48............................................. 0.001860 ........... 0.016 0.0362 0.001434 ........... 0.018 0.0335
49............................................. 0.001995 ........... 0.017 0.0407 0.001550 ........... 0.018 0.0419
50............................................. 0.002138 0.005347 0.018 0.0453 0.001676 0.002344 0.017 0.0502
51............................................. 0.002288 0.005528 0.019 0.0498 0.001814 0.002459 0.016 0.0586
52............................................. 0.002448 0.005644 0.020 0.0686 0.001967 0.002647 0.014 0.0744
53............................................. 0.002621 0.005722 0.020 0.0953 0.002135 0.002895 0.012 0.0947
54............................................. 0.002812 0.005797 0.020 0.1288 0.002321 0.003190 0.010 0.1189
55............................................. 0.003029 0.005905 0.019 0.2066 0.002526 0.003531 0.008 0.1897
56............................................. 0.003306 0.006124 0.018 0.3173 0.002756 0.003925 0.006 0.2857
57............................................. 0.003628 0.006444 0.017 0.3780 0.003010 0.004385 0.005 0.3403
58............................................. 0.003997 0.006895 0.016 0.4401 0.003291 0.004921 0.005 0.3878
59............................................. 0.004414 0.007485 0.016 0.4986 0.003599 0.005531 0.005 0.4360
60............................................. 0.004878 0.008196 0.016 0.5633 0.003931 0.006200 0.005 0.4954
61............................................. 0.005382 0.009001 0.015 0.6338 0.004285 0.006919 0.005 0.5805
62............................................. 0.005918 0.009915 0.015 0.7103 0.004656 0.007689 0.005 0.6598
63............................................. 0.006472 0.010951 0.014 0.7902 0.005039 0.008509 0.005 0.7520
[[Page 72266]]
64............................................. 0.007028 0.012117 0.014 0.8355 0.005429 0.009395 0.005 0.8043
65............................................. 0.007573 0.013419 0.014 0.8832 0.005821 0.010364 0.005 0.8552
66............................................. 0.008099 0.014868 0.013 0.9321 0.006207 0.011413 0.005 0.9118
67............................................. 0.008598 0.016460 0.013 0.9510 0.006583 0.012540 0.005 0.9367
68............................................. 0.009069 0.018200 0.014 0.9639 0.006945 0.013771 0.005 0.9523
69............................................. 0.009510 0.020105 0.014 0.9714 0.007289 0.015153 0.005 0.9627
70............................................. 0.009922 0.022206 0.015 0.9740 0.007613 0.016742 0.005 0.9661
71............................................. ........... 0.024570 0.015 0.9766 ........... 0.018579 0.006 0.9695
72............................................. ........... 0.027281 0.015 0.9792 ........... 0.020665 0.006 0.9729
73............................................. ........... 0.030387 0.015 0.9818 ........... 0.022970 0.007 0.9763
74............................................. ........... 0.033900 0.015 0.9844 ........... 0.025458 0.007 0.9797
75............................................. ........... 0.037834 0.014 0.9870 ........... 0.028106 0.008 0.9830
76............................................. ........... 0.042169 0.014 0.9896 ........... 0.030966 0.008 0.9864
77............................................. ........... 0.046906 0.013 0.9922 ........... 0.034105 0.007 0.9898
78............................................. ........... 0.052123 0.012 0.9948 ........... 0.037595 0.007 0.9932
79............................................. ........... 0.057927 0.011 0.9974 ........... 0.041506 0.007 0.9966
80............................................. ........... 0.064368 0.010 1.0000 ........... 0.045879 0.007 1.0000
81............................................. ........... 0.072041 0.009 1.0000 ........... 0.050780 0.007 1.0000
82............................................. ........... 0.080486 0.008 1.0000 ........... 0.056294 0.007 1.0000
83............................................. ........... 0.089718 0.008 1.0000 ........... 0.062506 0.007 1.0000
84............................................. ........... 0.099779 0.007 1.0000 ........... 0.069517 0.007 1.0000
85............................................. ........... 0.110757 0.007 1.0000 ........... 0.077446 0.006 1.0000
86............................................. ........... 0.122797 0.007 1.0000 ........... 0.086376 0.005 1.0000
87............................................. ........... 0.136043 0.006 1.0000 ........... 0.096337 0.004 1.0000
88............................................. ........... 0.150590 0.005 1.0000 ........... 0.107303 0.004 1.0000
89............................................. ........... 0.166420 0.005 1.0000 ........... 0.119154 0.003 1.0000
90............................................. ........... 0.183408 0.004 1.0000 ........... 0.131682 0.003 1.0000
91............................................. ........... 0.199769 0.004 1.0000 ........... 0.144604 0.003 1.0000
92............................................. ........... 0.216605 0.003 1.0000 ........... 0.157618 0.003 1.0000
93............................................. ........... 0.233662 0.003 1.0000 ........... 0.170433 0.002 1.0000
94............................................. ........... 0.250693 0.003 1.0000 ........... 0.182799 0.002 1.0000
95............................................. ........... 0.267491 0.002 1.0000 ........... 0.194509 0.002 1.0000
96............................................. ........... 0.283905 0.002 1.0000 ........... 0.205379 0.002 1.0000
97............................................. ........... 0.299852 0.002 1.0000 ........... 0.215240 0.001 1.0000
98............................................. ........... 0.315296 0.001 1.0000 ........... 0.223947 0.001 1.0000
99............................................. ........... 0.330207 0.001 1.0000 ........... 0.231387 0.001 1.0000
100............................................ ........... 0.344556 0.001 1.0000 ........... 0.237467 0.001 1.0000
101............................................ ........... 0.358628 0.000 1.0000 ........... 0.244834 0.000 1.0000
102............................................ ........... 0.371685 0.000 1.0000 ........... 0.254498 0.000 1.0000
103............................................ ........... 0.383040 0.000 1.0000 ........... 0.266044 0.000 1.0000
104............................................ ........... 0.392003 0.000 1.0000 ........... 0.279055 0.000 1.0000
105............................................ ........... 0.397886 0.000 1.0000 ........... 0.293116 0.000 1.0000
106............................................ ........... 0.400000 0.000 1.0000 ........... 0.307811 0.000 1.0000
107............................................ ........... 0.400000 0.000 1.0000 ........... 0.322725 0.000 1.0000
108............................................ ........... 0.400000 0.000 1.0000 ........... 0.337441 0.000 1.0000
109............................................ ........... 0.400000 0.000 1.0000 ........... 0.351544 0.000 1.0000
110............................................ ........... 0.400000 0.000 1.0000 ........... 0.364617 0.000 1.0000
111............................................ ........... 0.400000 0.000 1.0000 ........... 0.376246 0.000 1.0000
112............................................ ........... 0.400000 0.000 1.0000 ........... 0.386015 0.000 1.0000
113............................................ ........... 0.400000 0.000 1.0000 ........... 0.393507 0.000 1.0000
114............................................ ........... 0.400000 0.000 1.0000 ........... 0.398308 0.000 1.0000
115............................................ ........... 0.400000 0.000 1.0000 ........... 0.400000 0.000 1.0000
116............................................ ........... 0.400000 0.000 1.0000 ........... 0.400000 0.000 1.0000
117............................................ ........... 0.400000 0.000 1.0000 ........... 0.400000 0.000 1.0000
118............................................ ........... 0.400000 0.000 1.0000 ........... 0.400000 0.000 1.0000
119............................................ ........... 0.400000 0.000 1.0000 ........... 0.400000 0.000 1.0000
120............................................ ........... 1.000000 0.000 1.0000 ........... 1.000000 0.000 1.0000
--------------------------------------------------------------------------------------------------------------------------------------------------------
(e) Tables for plan years beginning during 2007. The following
tables are to be used for determining current liability under section
412(l)(7)(C)(ii) for plan years beginning during 2007.
[[Page 72267]]
--------------------------------------------------------------------------------------------------------------------------------------------------------
Male Female
------------------------------------------------------------------------------------------------
Optional
Age Non-annuitant Annuitant Optional Non-annuitant Annuitant combined table
table table combined table table table for small
for small plans plans
--------------------------------------------------------------------------------------------------------------------------------------------------------
1...................................................... 0.000408 0.000408 0.000408 0.000366 0.000366 0.000366
2...................................................... 0.000276 0.000276 0.000276 0.000239 0.000239 0.000239
3...................................................... 0.000229 0.000229 0.000229 0.000178 0.000178 0.000178
4...................................................... 0.000178 0.000178 0.000178 0.000133 0.000133 0.000133
5...................................................... 0.000163 0.000163 0.000163 0.000121 0.000121 0.000121
6...................................................... 0.000156 0.000156 0.000156 0.000113 0.000113 0.000113
7...................................................... 0.000150 0.000150 0.000150 0.000106 0.000106 0.000106
8...................................................... 0.000138 0.000138 0.000138 0.000094 0.000094 0.000094
9...................................................... 0.000134 0.000134 0.000134 0.000090 0.000090 0.000090
10..................................................... 0.000136 0.000136 0.000136 0.000090 0.000090 0.000090
11..................................................... 0.000140 0.000140 0.000140 0.000092 0.000092 0.000092
12..................................................... 0.000146 0.000146 0.000146 0.000095 0.000095 0.000095
13..................................................... 0.000154 0.000154 0.000154 0.000099 0.000099 0.000099
14..................................................... 0.000167 0.000167 0.000167 0.000109 0.000109 0.000109
15..................................................... 0.000176 0.000176 0.000176 0.000119 0.000119 0.000119
16..................................................... 0.000186 0.000186 0.000186 0.000127 0.000127 0.000127
17..................................................... 0.000197 0.000197 0.000197 0.000135 0.000135 0.000135
18..................................................... 0.000207 0.000207 0.000207 0.000138 0.000138 0.000138
19..................................................... 0.000217 0.000217 0.000217 0.000136 0.000136 0.000136
20..................................................... 0.000226 0.000226 0.000226 0.000134 0.000134 0.000134
21..................................................... 0.000239 0.000239 0.000239 0.000132 0.000132 0.000132
22..................................................... 0.000251 0.000251 0.000251 0.000133 0.000133 0.000133
23..................................................... 0.000267 0.000267 0.000267 0.000138 0.000138 0.000138
24..................................................... 0.000282 0.000282 0.000282 0.000144 0.000144 0.000144
25..................................................... 0.000301 0.000301 0.000301 0.000152 0.000152 0.000152
26..................................................... 0.000331 0.000331 0.000331 0.000164 0.000164 0.000164
27..................................................... 0.000342 0.000342 0.000342 0.000171 0.000171 0.000171
28..................................................... 0.000352 0.000352 0.000352 0.000180 0.000180 0.000180
29..................................................... 0.000369 0.000369 0.000369 0.000190 0.000190 0.000190
30..................................................... 0.000398 0.000398 0.000398 0.000212 0.000212 0.000212
31..................................................... 0.000447 0.000447 0.000447 0.000257 0.000257 0.000257
32..................................................... 0.000503 0.000503 0.000503 0.000293 0.000293 0.000293
33..................................................... 0.000565 0.000565 0.000565 0.000323 0.000323 0.000323
34..................................................... 0.000629 0.000629 0.000629 0.000349 0.000349 0.000349
35..................................................... 0.000692 0.000692 0.000692 0.000372 0.000372 0.000372
36..................................................... 0.000753 0.000753 0.000753 0.000394 0.000394 0.000394
37..................................................... 0.000810 0.000810 0.000810 0.000415 0.000415 0.000415
38..................................................... 0.000844 0.000844 0.000844 0.000439 0.000439 0.000439
39..................................................... 0.000875 0.000875 0.000875 0.000465 0.000465 0.000465
40..................................................... 0.000904 0.000904 0.000904 0.000506 0.000506 0.000506
41..................................................... 0.000936 0.000963 0.000936 0.000555 0.000555 0.000555
42..................................................... 0.000974 0.001081 0.000975 0.000611 0.000611 0.000611
43..................................................... 0.001018 0.001258 0.001021 0.000672 0.000672 0.000672
44..................................................... 0.001071 0.001493 0.001079 0.000738 0.000738 0.000738
45..................................................... 0.001131 0.001788 0.001146 0.000788 0.000791 0.000788
46..................................................... 0.001185 0.002142 0.001211 0.000839 0.000896 0.000840
47..................................................... 0.001244 0.002554 0.001286 0.000889 0.001054 0.000893
48..................................................... 0.001304 0.003026 0.001366 0.000962 0.001265 0.000972
49..................................................... 0.001368 0.003557 0.001457 0.001039 0.001528 0.001059
50..................................................... 0.001434 0.004146 0.001557 0.001149 0.001844 0.001184
51..................................................... 0.001500 0.004226 0.001636 0.001272 0.001962 0.001312
52..................................................... 0.001570 0.004254 0.001754 0.001442 0.002173 0.001496
53..................................................... 0.001681 0.004312 0.001932 0.001637 0.002445 0.001714
54..................................................... 0.001803 0.004369 0.002134 0.001861 0.002771 0.001969
55..................................................... 0.001986 0.004514 0.002508 0.002117 0.003155 0.002314
56..................................................... 0.002217 0.004749 0.003020 0.002414 0.003608 0.002755
57..................................................... 0.002488 0.005069 0.003464 0.002696 0.004088 0.003170
58..................................................... 0.002803 0.005501 0.003990 0.002947 0.004588 0.003583
59..................................................... 0.003095 0.005972 0.004529 0.003223 0.005156 0.004066
60..................................................... 0.003421 0.006539 0.005177 0.003521 0.005780 0.004640
61..................................................... 0.003860 0.007284 0.006030 0.003838 0.006450 0.005354
62..................................................... 0.004244 0.008024 0.006929 0.004170 0.007168 0.006148
63..................................................... 0.004746 0.008989 0.008099 0.004513 0.007932 0.007084
64..................................................... 0.005154 0.009947 0.009159 0.004862 0.008758 0.007996
65..................................................... 0.005553 0.011015 0.010377 0.005213 0.009662 0.009018
66..................................................... 0.006073 0.012379 0.011951 0.005559 0.010640 0.010192
67..................................................... 0.006447 0.013705 0.013349 0.005896 0.011690 0.011323
68..................................................... 0.006650 0.014940 0.014641 0.006220 0.012838 0.012522
69..................................................... 0.006974 0.016504 0.016231 0.006528 0.014126 0.013843
70..................................................... 0.007115 0.017971 0.017689 0.006818 0.015607 0.015309
[[Page 72268]]
71..................................................... 0.008002 0.019884 0.019606 0.007450 0.017078 0.016784
72..................................................... 0.009777 0.022078 0.021822 0.008714 0.018995 0.018716
73..................................................... 0.012439 0.024592 0.024371 0.010610 0.020819 0.020577
74..................................................... 0.015988 0.027435 0.027256 0.013139 0.023074 0.022872
75..................................................... 0.020425 0.031057 0.030919 0.016299 0.025117 0.024967
76..................................................... 0.025749 0.034615 0.034523 0.020092 0.027673 0.027570
77..................................................... 0.031961 0.039054 0.038999 0.024516 0.030911 0.030846
78..................................................... 0.039059 0.044018 0.043992 0.029573 0.034074 0.034043
79..................................................... 0.047046 0.049617 0.049610 0.035261 0.037618 0.037610
80..................................................... 0.055919 0.055919 0.055919 0.041582 0.041582 0.041582
81..................................................... 0.063476 0.063476 0.063476 0.046024 0.046024 0.046024
82..................................................... 0.071926 0.071926 0.071926 0.051021 0.051021 0.051021
83..................................................... 0.080176 0.080176 0.080176 0.056651 0.056651 0.056651
84..................................................... 0.090433 0.090433 0.090433 0.063006 0.063006 0.063006
85..................................................... 0.100383 0.100383 0.100383 0.071188 0.071188 0.071188
86..................................................... 0.111295 0.111295 0.111295 0.080522 0.080522 0.080522
87..................................................... 0.125051 0.125051 0.125051 0.091080 0.091080 0.091080
88..................................................... 0.140385 0.140385 0.140385 0.101448 0.101448 0.101448
89..................................................... 0.155142 0.155142 0.155142 0.114246 0.114246 0.114246
90..................................................... 0.173400 0.173400 0.173400 0.126258 0.126258 0.126258
91..................................................... 0.188868 0.188868 0.188868 0.138648 0.138648 0.138648
92..................................................... 0.207683 0.207683 0.207683 0.151126 0.151126 0.151126
93..................................................... 0.224037 0.224037 0.224037 0.165722 0.165722 0.165722
94..................................................... 0.240367 0.240367 0.240367 0.177747 0.177747 0.177747
95..................................................... 0.260098 0.260098 0.260098 0.189133 0.189133 0.189133
96..................................................... 0.276058 0.276058 0.276058 0.199703 0.199703 0.199703
97..................................................... 0.291564 0.291564 0.291564 0.212246 0.212246 0.212246
98..................................................... 0.310910 0.310910 0.310910 0.220832 0.220832 0.220832
99..................................................... 0.325614 0.325614 0.325614 0.228169 0.228169 0.228169
100.................................................... 0.339763 0.339763 0.339763 0.234164 0.234164 0.234164
101.................................................... 0.358628 0.358628 0.358628 0.244834 0.244834 0.244834
102.................................................... 0.371685 0.371685 0.371685 0.254498 0.254498 0.254498
103.................................................... 0.383040 0.383040 0.383040 0.266044 0.266044 0.266044
104.................................................... 0.392003 0.392003 0.392003 0.279055 0.279055 0.279055
105.................................................... 0.397886 0.397886 0.397886 0.293116 0.293116 0.293116
106.................................................... 0.400000 0.400000 0.400000 0.307811 0.307811 0.307811
107.................................................... 0.400000 0.400000 0.400000 0.322725 0.322725 0.322725
108.................................................... 0.400000 0.400000 0.400000 0.337441 0.337441 0.337441
109.................................................... 0.400000 0.400000 0.400000 0.351544 0.351544 0.351544
110.................................................... 0.400000 0.400000 0.400000 0.364617 0.364617 0.364617
111.................................................... 0.400000 0.400000 0.400000 0.376246 0.376246 0.376246
112.................................................... 0.400000 0.400000 0.400000 0.386015 0.386015 0.386015
113.................................................... 0.400000 0.400000 0.400000 0.393507 0.393507 0.393507
114.................................................... 0.400000 0.400000 0.400000 0.398308 0.398308 0.398308
115.................................................... 0.400000 0.400000 0.400000 0.400000 0.400000 0.400000
116.................................................... 0.400000 0.400000 0.400000 0.400000 0.400000 0.400000
117.................................................... 0.400000 0.400000 0.400000 0.400000 0.400000 0.400000
118.................................................... 0.400000 0.400000 0.400000 0.400000 0.400000 0.400000
119.................................................... 0.400000 0.400000 0.400000 0.400000 0.400000 0.400000
120.................................................... 1.000000 1.000000 1.000000 1.000000 1.000000 1.000000
--------------------------------------------------------------------------------------------------------------------------------------------------------
(f) Effective date. The mortality tables described in this section
apply for plan years beginning on or after January 1, 2007.
Mark E. Matthews,
Deputy Commissioner for Services and Enforcement.
[FR Doc. E5-6742 Filed 12-1-05; 8:45 am]
BILLING CODE 4830-01-P