IRS Notice: Minimum Present Value Tables for Annuity Distributions for 2024 (IRC §417)

Mortality table for use in determining minimum present value under I.R.C. §417(e)(3) and §205(g)(3) of ERISA for distributions with annuity starting dates that occur during stability periods beginning in the 2024 calendar year, the IRS released. Section 412 provides: (1) minimum funding requirements that generally apply for defined benefit plans; and (2) §430 sets forth the minimum funding requirements that apply to defined benefit plans that are not multiemployer plans or CSEC plans. [Notice 2023-73, 2023-45 I.R.B. __ (Nov. 6, 2023).

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