IRS Notice: Static Mortality Tables for Defined Benefit Plans Updated for 2023 (IRC §430)

Mortality improvement rates and static mortality tables for purposes of calculating the funding target for valuation dates occurring during calendar year 2023 updated Apr. 27. The mortality tables are based on the tables in the RP-2014 Mortality Tables Report, adjusted for mortality improvement, the IRS noted. The mortality improvement rates for valuation dates occurring during 2023 are the mortality improvement rates in the Mortality Improvement Scale MP-2021 Report. The static mortality tables for valuation dates occurring during 2023 are set forth in the appendix to the Notice, the IRS stated. [Notice 2022-22, 2022-20 I.R.B. __ (May 16, 2022)]

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